Updated

Oil prices climbed further after reports that Iran-backed Houthi rebels struck a Saudi Aramco refinery, adding to fears of a wider Middle East conflict, and gains extended after the U.S. and Iran traded strikes over the weekend, sending the Dow down roughly 500 points. Brent crude has since pushed to near $100 a barrel as continued U.S.-Iran tit-for-tat strikes stoke worries over further disruptions to regional energy supplies. The escalation keeps traders on edge over the Strait of Hormuz, a critical artery for global oil shipments, with market participants watching for signs of further military action or diplomatic de-escalation. The persistence of the conflict has kept crude near multi-year highs and continues to weigh on broader risk sentiment across equity markets.