Oil extends gains after US and Iran strike ships
Oil prices extended gains on Monday as tit-for-tat strikes between the US and Iran on vessels sailing in the Strait of Hormuz and other areas heightened concerns of a prolonged supply disruption from the Middle East. Brent crude futures climbed 79 cents, or 0.82%, to $97.07 a barrel by 0512 GMT while US West Texas Intermediate crude was at $92.28 a barrel, up 80 cents, or 0.87%.