Oil prices moved sharply higher after attacks on ships in the Red Sea by rebel Houthi forces added to worries that the war in Gaza could spread further into the Middle East.
The U.S. destroyed three boats carrying militants supported by Iran on Sunday after a Maersk-owned container ship came under attack from Houthi forces late Saturday.
Maersk is still planning to ship via the Red Sea and Suez Canal in the near term, according to a company schedule released Monday.