Oil prices extend gains as Trump threatens to escalate Mideast war, Iran targets Kuwaiti tanker

Skip Navigation Markets Business Investing Tech Politics Video Watchlist Investing Club PRO Livestream Menu Key Points The West Texas Intermediate futures for May delivery extended gains, rising 3.5% to $106.44 a barrel as of 8:25 p.m. ET, on track for their biggest monthly surge since 2020. May futures for Brent crude surged 2% to $115.17 per barrel, poised for their biggest monthly increase on record. A general view of the Port of Kharg Island Oil Terminal, 25 km from the Iranian coast in the Persian Gulf and 483 km northwest of the Strait of Hormuz, in Iran on March 12, 2017. Anadolu | Anadolu | Oil prices continued to climb with the U.S. threatening further attacks on Iran, including its energy infrastructure and desalination plants as the month-long war showed little sign of relief. President  Donald Trump  said Monday that if Tehran didn't re-open the Strait of Hormuz and agree to a peace deal for ending the war, "we will conclude our lovely 'stay' in Iran by blowing up and completely obliterating" electricity plants, oil facilities, and "possibly" desalination infrastructure, according to a Truth Social post . The  West Texas Intermediate futures for May delivery extended gains, rising 3.5% to $106.44 a barrel as of 8:25 p.m. ET, sending their monthly gain to 56.8%, on track for their biggest monthly surge since 2020. May futures for Brent crude  surged 2% to $115.17 per barrel, gaining 58.6% so far this month, poised for their biggest monthly rise on record. …