Oil extends gains, with Brent above $101 after U.S. destroys Iranian oil tankers

Escalation in the U.S.-Iran conflict, now in its seventh month, is raising the risk of oil prices surging above $120 a barrel as attacks on shipping intensify, Goldman Sachs said. U.S. President Donald Trump's top White House advisers have raised privately with him the prospect that the Iran conflict could drag on through the remainder of his term, according to WSJ.