Oil prices climbed on Monday, extending Friday's rally, as renewed strikes by Israel and Iran over the weekend increased concerns that the battle could widen across the region and significantly disrupt oil exports from the Middle East.

Israel and Iran have traded more missile attacks despite international calls for a halt to the fighting, with neither country showing signs of backing down as the conflict between the regional foes raged for a third day.

An Iranian lawmaker said closure of the Strait of Hormuz, a critical chokepoint in the global energy trade, was under serious consideration.

Israel’s attack on Iranian nuclear and military sites on Friday, and the resulting oil-price surge and airline-stock slump, could pose even more obstacles for consumers navigating an already unusual summer travel season.

Follow the latest news after Israel launched strikes at Iran, a dramatic escalation in long-running tensions between the two countries.

Investors struck a cautious tone on Monday, as an escalating conflict between Israel and Iran pushed oil prices higher and raised wider questions about the long-run impact.