Crude oil has held onto Friday’s gains as traders continue to watch the developments in the Middle East.
As reports roll in of various pockets of fighting, the market remains cautious and concerned about the potential disruption to the global oil supply. The military build-up in the region is adding to scrutiny of the potential squeeze on available supply.
US Treasury Secretary Janet Yellen made comments on Friday that the US cannot rule out further sanctions against Iran, adding to concerns around the availability of the energy product.
