Oil prices look set to rise on Monday after U.S. and ​Iranian trade threats to target energy facilities, analysts said.

Even with oil prices climbing, people in West Texas say it doesn’t feel like the start of another boom, at least not yet.

By Sam Li and Lewis Jackson BEIJING, March 23 (Reuters) - China intervened to cushion rising fuel prices on Monday, increasing regulated ceiling prices for retail gasoline and diesel but limiting the hike to about half what would normally be applied under the government's pricing mechanism.

Benchmark Brent oil ​prices jumped above $119 a barrel on Thursday, March 19 after Iran attacked energy facilities across ‌the Middle East.

With gas closing in on $4 a gallon, the Trump administration is pulling multiple levers to tame energy prices. The results have been mixed.

In a twist of wartime irony, the United States has moved to ease sanctions on Iranian oil to cool surging energy prices, a potential boon for Tehran.

Another climb for oil prices shook stock markets, as hopes collapsed for a possible cut to interest rates this year by the Federal Reserve

Energy experts forecast more pain for consumers and businesses as the war in the Middle East shows no signs of easing.

Oil prices are rallying again as the market fears Israel and Iran will escalate attacks on Middle East energy infrastructure.

Oil prices rose Monday after the United States and Iran threatened fresh attacks on energy facilities in the Middle East, including power plants, signaling that the conflict may yet escalate.