Oil prices extended gains on Monday as hopes of ending the U.S.-Israeli conflict with Iran appeared to fade after a nuclear power plant in the United Arab Emirates came under attack, while U.S. President Donald Trump was expected to review military options on Iran.
Fresh drone attacks targeting the UAE and Saudi Arabia, along with increasingly aggressive rhetoric from Washington and Tehran, added to fears of a wider escalation. UAE officials said they were investigating the source of the strike on the Barakah nuclear power plant and stressed that the UAE reserved the right to respond to what it described as “terrorist attacks.”
