Oil prices extended their gains on Monday as fresh strikes by the U.S. and Iran on vessels in and around the Strait of Hormuz intensified fears of a prolonged disruption to Middle East oil supplies.
The latest escalation came on Saturday when U.S. forces struck three Iranian oil tankers, according to U.S. Central Command. One of the vessels was hit off the coast of Kharg Island, near Iran's key oil export hub.
