Oil prices increased on Monday amid ongoing conflicts in the Middle East and expectations that rising economic activity in the world’s largest oil-consuming countries, the US and China, will boost oil demand. However, the possibility of Saudi Arabia increasing oil production in December limited further price hikes.

As the conflict across the Middle East widens, rising oil prices are being closely watched. The cost of oil affects everything from the price of food at the supermarket to how much it costs to fill up your car.