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Oil rises more than 1% after drone attack on UAE nuclear power plant

CNBC Africa · last updated
A pumpjack stands at the Inglewood Oil field in Los Angeles, California on March 17, 2026.
Patrick T. Fallon | Afp | Getty Images

SINGAPORE, May 18 (Reuters) – Oil prices extended gains on Monday as efforts to end the U.S.-Israeli war with Iran appeared to have stalled, after a nuclear power plant in the United Arab Emirates came under attack and as U.S. President Donald Trump is expected to discuss military options on Iran.

Brent crude futures LCOc1 climbed $1.36, or 1.24%, to $110.62 a barrel by 2202 GMT and U.S. West Texas Intermediate CLc1 was at $107.26 a barrel, up $1.84, or 1.75%.

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