Oil rally builds as ‘staggering’ West Asia War jolts energy

Oil extended gains as the US and Israel stepped up their war against Iran, while Tehran vowed a full closure of the Strait of Hormuz and hit the American embassy in Riyadh with drones. Global benchmark Brent rose above $80 a barrel, after spiking about 7 per cent on Monday, while West Texas Intermediate was near $73. President Donald Trump said the US would do "whatever it takes," and Secretary of State Marco Rubio told reporters the military campaign was set to intensify. The US embassy in the Saudi capita ...