Oil extends gains, crosses $105 as Middle East conflict threatens export facilities

Oil prices surged as the U.S.-Israeli conflict with Iran entered its third week, disrupting global supplies and closing the Strait of Hormuz. Brent crude futures jumped to $105.15 a barrel, and WTI climbed to $100.32, both up over 40% this month. The U.S. is considering further strikes and coalition efforts to secure shipping lanes.