Oil nudges up as investors eye Mideast conflict

Oil prices edged up on Monday as traders watched for supply disruption risks in the Middle East following strikes by U.S. and British forces to stop Houthi militia in Yemen from attacking ships in the Red Sea.

Brent crude futures were up 24 cents, or 0.3%, to $78.53 a barrel by 0737 GMT after settling 1.1% higher on Friday. U.S. West Texas Intermediate crude was at $72.85 a barrel, up 17 cents, or 0.2%, following a near 1% gain in the previous session.