Crude prices extended gains as traders weighed escalating attacks in the Persian Gulf and signs that President Donald Trump was contemplating an exit from the Iran conflict.
Oil prices extend gains after record monthly rally as Iran war fuels supply worries
Oil market volatility increased due to geopolitical tensions in the Persian Gulf, driven by escalating attacks linked to potential U.S. withdrawal from the Iran conflict. Traders and energy sector stakeholders face heightened risk of supply disruptions and price fluctuations, impacting global energy markets and critical infrastructure reliant on crude oil.