Oil prices rose for a fifth consecutive session on Monday, extending gains from the previous week's more than 3% rise, as U.S. recession fears eased and Middle East supply risks provided support.
Brent crude futures were up 70 cents, or 0.9%, at $80.36 a barrel by 1134 GMT while U.S. West Texas Intermediate crude futures rose 84 cents, or 1.1%, to $77.68.
Iran and Hezbollah have vowed to retaliate for the assassinations of Hamas leader Ismail Haniyeh and Hezbollah military commander Fuad Shukr.
In addition, the Israeli incursion into Gaza intensified on Saturday when an airstrike on a school compound killed at least 90 people, according to the Gaza Civil Emergency Service, though Israel said the death toll was inflated. Hamas cast doubt on its participation in new ceasefire talks on Sunday.
Brent gained 3.7% last week while WTI rose by 4.5%, buoyed by economic data and increased hopes of a cut to U.S. interest rates.
Source : Reuters
