Oil prices extend gains as markets wait for Israel's retaliation against Iran - Tellbrief.com

Oil prices extend gains as markets wait for Israel's retaliation against Iran

Oil extended its gains on Monday following its biggest weekly gain in more than a year in anticipation of an Israeli retaliation against Iran after last week's missile strike. Separately, Hurricane Milton headed towards Florida off the gulf of Mexico strengthened to Category 5, also helping fuel higher crude prices.

Tel Aviv has vowed to strike back after Iran launched some 200 ballistic missiles toward Israel last Tuesday. Oil futures have been moving on speculation of whether that retaliation will include targeting Iran's oil infrastructure.

During Friday’s session, oil pared gains after President Biden discouraged Israel from targeting Iran’s oil fields...

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