State-owned Abu Dhabi National Oil Company (ADNOC) said on Monday it set the official selling price for Murban crude for August at $80.01 per barrel, down from the official selling price for July of $101.48 per barrel, Reuters reported.

Oil prices jumped as Iran escalated its attacks in Gulf countries following US strikes, threatening energy shipments through the Strait of Hormuz.

Brent crude futures rose $3.12 per barrel, or 4.10%, to $79.13 per barrel by 04:02 GMT, while US West Texas Intermediate crude rose $2.95, or 4.13%, to $74.36 per barrel.

Tehran widened the scope of its strikes early this week to include Qatar and the UAE, while the US launched more attacks on Iran, the latest in a series of attacks and counterattacks over the issue of navigation through the Strait of Hormuz.

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