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The Economic Times
The Economic Times
Business

Oil extends gains after US and Iran strike ships

United States Iran Oil Strait of Hormuz Hormuz

Oil prices extended gains on Monday as tit-for-tat strikes between the ​U.S. 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 52 cents, or 0.54%, to $96.80 a barrel by 2354 GMT while U.S. West Texas Intermediate crude was at $92.14 a barrel, up 66 cents, or ‌0.72%.

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