Oil prices rise as US-Israeli war with Iran continues to disrupt supply

Oil prices climbed on Monday ‌on continuing fears of supply losses because of shipping disruptions in the key Middle East producing region from the U.S.-Israeli war with Iran. Brent crude futures rose $1.71, or 1.6%, to $110.74 a barrel by 0057 GMT. U.S. West Texas Intermediate crude futures gained $0.71, or 0.6%, to trade ​at $112.25 per barrel. On Thursday, the last trading day before the Good Friday holiday break, WTI ​settled up more than 11% and Brent soared nearly 8% in volatile trading, recording ⁠their biggest absolute price increase since 2020, as U.S. President Donald Trump promised to continue attacks on ​Iran. The Strait of Hormuz, which carries oil and petroleum products from Iraq, Saudi Arabia, Qatar, Kuwait ​and the United Arab Emirates, remains largely closed by Iranian attacks on shipping after the war began on February 28.