SINGAPORE (Reuters) - Oil prices jumped more than 3 percent in opening trade on Monday, rising for a third day after Israel launched a ground offensive in the Gaza Strip at the weekend and on concerns over a deepening Russian gas supply row.
U.S. light, sweet crude for February delivery rose $1.47 a barrel to $47.81 by 2305 GMT, trading at the highest in over two weeks as more traders began to reckon that the over $110 slump in prices from their $147 record high had been overdone.
(Reporting by Jonathan Leff; Editing by Anshuman Daga)
