Oil prices extended gains on Monday on fears that an escalation in the Middle East could disrupt regional oil supplies, while impending U.S. interest rate cuts boosted the global economic outlook and fuel demand.
Brent crude futures rose 37 cents, or 0.5 percent, to $79.39 a barrel. U.S. crude futures rose 36 cents, or 0.5 percent, to $75.19 a barrel.
Crude rose more than 2 percent on Friday after Federal Reserve Chairman Jerome Powell backed starting interest rate cuts soon.
Source (Al Arabiya.net Website, Edited)
