KUALA LUMPUR: Refiners Petron Malaysia Refining & Marketing Bhd and Hengyuan Refining Co Bhd were among the top gainers on Bursa Malaysia in early trade on Monday, tracking a rally in oil prices amid escalating tensions in the Middle East.

As at 9.34 am, the Bursa Malaysia Energy Index rose 1.45%, or 11.12 points, to 777.40.

Petron Malaysia added six sen to RM3.55 at 9.21 am, while Hengyuan gained eight sen to RM1.42.

Oil prices surged more than 2% on Monday, with Brent crude climbing above US$90 a barrel after the United States and Iran expanded attacks in the Middle East, raising concerns over energy shipments through the Strait of Hormuz, Reuters reported.

Brent crude rose US$2.12, or 2.41%, to US$90.22 a barrel, while U.S. West Texas Intermediate crude advanced US$1.75, or 2.12%, to US$84.24 per barrel.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.