SINGAPORE: Oil extended its dramatic surge, surpassing $70 a barrel in London for the first time since September, as Middle East tensions flared after the U.S. assassinated one of Iran’s most powerful generals.
Futures jumped by another 1.4% on Monday as the U.S. State Department warned of a "heightened risk” of missile attacks near military bases and energy facilities in Saudi Arabia. President Donald Trump reiterated threats of retaliation should Iran "do anything” and vowed heavy sanctions against Iraq if American troops are forced to leave OPEC’s second-biggest producer.