Oil Extends Rally On Supply Disruption Fears

Oil prices continued to move higher on Monday as the U.S.-Israel war with Iran entered its third week, triggering the largest disruption to global oil markets in history.

Global oil supply could go down by 8 million barrels a day in March, or around 8 percent of worldwide demand, according to the International Energy Agency, which is coordinating the biggest emergency release of oil stocks since it was created in the 1970s during the Arab oil embargo.