US-Iran war, March 3 -- Oil prices extended gains to a third straight session on Tuesday, March 3, as the escalating conflict between the US and Israel with Iran, along with threats to shipping via the Strait of Hormuz, which stoked concerns over potential supply disruptions from the crucial Middle East oil-producing region.

Brent crude futures climbed to $79.44 per barrel, up $1.70 or 2.2%. On Monday, the benchmark had surged to an intraday high of $82.37 - its strongest level since January 2025 - before trimming gains to close 6.7% higher.

Meanwhile, US West Texas Intermediate (WTI) crude advanced $1.17, or 1.6%, to $72.40 per barrel. In the previous session, WTI had briefly touched its highest level since June 2025 before retreating,...