By Wayne Cole SYDNEY (Reuters) -Asian markets kept their nerve on Monday and oil prices climbed anew as the conflict between Israel and Iran showed no sign of cooling, adding geopolitical uncertainty to the world's economic troubles in a week packed with central bank meetings.

OIH ETF sees gains with rising oil prices, but cyclical risks and technical resistance near $265 prompt a hold rating despite attractive valuations.

A sustained surge in oil prices is likely to complicate the U.S. fight against inflation. A $10-a-barrel increase would boost year-over-year growth in the Consumer Price Index by 0.5 percentage points,

Asian markets kept their nerve on Monday and oil prices climbed anew as the conflict between Israel and Iran showed no sign of cooling, adding geopolitical uncertainty to the world's economic troubles in a week packed with central bank meetings.

Rather, it is geopolitical factors—specifically, escalating tensions in the Middle East—that are unsettling markets and pushing prices higher.

A federal appeals court panel refused to vacate the approval of the massive Willow oil project on Alaska’s petroleum-rich North Slope though it found flaws in how the approval was reached.

MOSCOW (Reuters) -Russian forces carried out an overnight strike on the Kremenchuk oil refinery that supplies fuel to Ukrainian forces in the Donbas region, Russia's defence ministry said on Sunday. President Volodymyr Zelenskiy denounced the attack on the central Poltava region as a vile strike against Ukrainian energy infrastructure.

Oil prices leaped, and stocks slumped on worries that escalating violence following Israel’s attack on Iranian nuclear and military targets could damage the flow of crude around the world, along with the global economy.