US-Iran war, March 16 -- Oil prices advanced on Monday, March 16, as investors refocused on potential risks to Middle East energy infrastructure, even after US President Donald Trump urged nations to help protect the Strait of Hormuz, a key passage for global oil shipments.

Brent crude futures rose $1.27, or 1.2%, to $104.41 a barrel, following a gain of $2.68 in the previous session. Meanwhile, West Texas Intermediate crude climbed 54 cents, or 0.6%, to $99.25 a barrel after rising nearly $3 on Friday.

Both contracts have jumped more than 40% this month, reaching their highest levels since 2022, after US-Israeli strikes on Iran led Tehran to suspend shipping through the Strait of Hormuz, disrupting nearly a fifth of global oil supply i...