Oil prices extend gains as US and Iran trade fresh strikes

The latest ​exchange followed a weekend flare-up ​in hostilities, the first ⁠since July, and came after attacks on two tankers departing the Strait of Hormuz on Monday, causing further disruptions to oil supplies and forcing traders to seek alternative crude shipments."Until there is clear evidence that negotiations can produce a lasting resolution and that normal oil flows through the Strait are returning, the risk premium in crude is likely to ⁠remain elevated."attacks would further restrict traffic through the Strait of Hormuz, a critical waterway that carried about one-fifth of the ​global oil consumed before the conflict and which Iran has effectively closed to commercial shipping.