STORY: :: Archive
Oil prices extended gains on Monday, hitting two-week highs as efforts to end the U.S.-Israeli war on Iran appeared to have stalled.
That comes after a nuclear power plant in the United Arab Emirates came under attack and as U.S. President Donald Trump is expected to discuss military options on Iran.
International benchmark Brent crude climbed around 2% to over $110 a barrel in Asian morning trade, with U.S. oil seeing similar gains.
Emirati officials said they were investigating the source of the strike on the Barakah nuclear power plant.
They added that the UAE had the full right to respond to what they called "terrorist attacks."
Saudi Arabia, which intercepted three drones, also warned it would take all necessary measures to prevent any attempt to violate its sovereignty and security.
Last week's talks between Trump and Chinese President Xi Jinping ended without an indication from the world's top oil importer that it would help resolve the conflict.
Meanwhile, Axios has reported that Trump is expected to meet top national security advisers on Tuesday to discuss options for military action regarding Iran.
