Oil prices extend gains after record monthly rally as Iran war fuels supply worries

Smoke emanates from smokestacks from an oil refinery in Linden, New Jersey, on March 18, 2026.U.S. crude oil for May was up 1.5% at $102.92 a barrel, with prices soaring about 51% in March to clock West Texas Intermediate's best month since May 2020.Brent contract for June delivery was up 1.5% at $105.56 a barrel as of 9:50 ET — prices surged more than 60% in March, in their strongest ever monthly rally dating back to 1988, with the May contract settling about 5% higher on Tuesday at $118.35 per barrel.Crud ...