India, March 18 -- Oil extended gains for a third straight session on Tuesday as escalating tensions in the Middle East as well as optimism surrounding China's plan to boost consumption outweighed concerns about a potential global glut.
Benchmark Brent crude futures jumped 1.1 percent to $71.88 a barrel in European trade, while WTI crude futures were up 1.3 percent at $68.23.
Israel has launched a wave of air attacks across the Gaza Strip, breaking ceasefire and reigniting hostilities after stalled hostage negotiations.
The air raids in the early hours of Tuesday killed more than 320 people, including many women and children.
Israeli Prime Minister Benjamin Netanyahu said he had ordered the attacks due to a lack of progress in talks to ...