Oil prices extended gains for a fourth consecutive session on Thursday as fresh U.S. strikes on Iranian military targets heightened concerns over a renewed escalation in the conflict and the risk of supply disruptions through the Strait of Hormuz.
The United States on Wednesday targeted Iran's coastal defence systems and missile sites after reimposing a naval blockade on Iranian ports. In response, Iran warned that it could further restrict regional energy exports, saying it was fighting an "existential war" against the U.S.
