Brent Trades Above $76

Oil prices extended the rally at the start of the week after Israel and Iran exchanged attacks over the weekend, heightening fears that escalating tensions could disrupt crude supplies from the Middle East. Brent was above $76, the highest in five minths after surging almost 6% earlier in the sesson and closing Friday's session 7% higher.

Israel launched an attack on the massive South Pars gas field in the Persian Gulf, leading to the shutdown of a production platform, following airstrikes on Iran’s nuclear facilities and military leadership last week.