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.

Stock futures rebounded slightly early Monday as the spike in oil prices due to the escalating conflict between Israel and Iran eased for a moment. Stock gains were muted as investors remained concerned about the rising geopolitical risk to the global economy.

An exchange of strikes on refineries and gas facilities was limited but raised the risks to an industry with broad economic impacts.

Israel’s stunning attacks on Iran’s nuclear program and military leadership are embroiling the Middle East in another deadly war — and could imperil President Donald Trump’s pledge to slash oil prices for American consumers.

Iran has launched a new wave of missile attacks on Israel, triggering air raid sirens across the country as emergency services reported at least three killed and dozens more wounded in the fourth day