Oil prices jumped over 1 percent on Monday after supply disruptions from Nigeria, Venezuela, the United States and China triggered a U-turn in the oil outlook of Goldman Sachs, which long warned of overflowing storage and another looming crash in prices.

    International Brent crude futures were trading at $48.50 per barrel at 0255 GMT, up 67 cents, or 1.4 percent, from their last settlement.

    US West Texas Intermediate crude futures were up 68 cents, or 1.5 percent, at $46.89 a barrel.