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While the Strait of Hormuz remained largely closed, keeping global energy supplies tight, oil prices jumped $4.16 to $105.45 a barrel on Monday.

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eBay confirmed the huge bid on Monday and said that it has had no talks with GameStop or received any outreach from the company before it received the proposal.

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The Brent benchmark was poised for a 5.8% gain over the week.

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The U.S. has continued its blockade of Iranian ports while the Strait of Hormuz is closed, pushing oil prices higher.

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The social media firm's shares rose 5.8%. The stock has fallen about 31% so far this year.

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