US oil price jumps over 2% after reported strikes on Iran’s Kharg island

The main US oil contract extended its gains Tuesday on reports of US-Israeli strikes on the key Iranian oil export terminal of Kharg island.

West Texas Intermediate for delivery in May jumped 2.1 percent to $114.71 a barrel.

The international benchmark, Brent North Sea crude, for delivery in June, gained 0.4 percent to $110.22 a barrel.