Oil prices extended gains, with Brent crude reaching $79.41 per barrel and West Texas Intermediate at $72.45, driven by the escalation of the U.S. war waged in support of the Israeli occupation against Iran and fears of supply disruptions through the Strait of Hormuz.

Gold climbed above $5,360 per ounce, while silver rose to $90.67.

Meanwhile, the market capitalization of major U.S. arms manufacturers jumped by billions of dollars as their shares advanced on the New York Stock Exchange.