Dhaka, June 23 -- Oil prices jumped on Monday to their highest since January as the United States' weekend move to join Israel in attacking Iran's nuclear facilities stoked supply concerns.

Brent crude futures were up $1.52 or 1.97 per cent to $78.53 a barrel as of 0503 GMT. US West Texas Intermediate crude advanced $1.51 or 2.04 per cent to $75.35.

Both contracts jumped by more than 3.0 per cent earlier in the session to $81.40 and $78.40, respectively, touching five-month highs before giving up some gains, according to Reuters.

The rise in prices came after US President Donald Trump said he had "obliterated" Iran's main nuclear sites in strikes over the weekend, joining an Israeli assault in an escalation of conflict in the Middle Ea...