The statistics bureau said that China's energy supply is "relatively strong," while announcing an uptick in domestic production.

By Florence Tan SINGAPORE, March 16 (Reuters) - Oil prices extended gains on Monday as the U.S.-Israeli war against Iran entered a third week, putting oil infrastructure at risk and keeping the Strait of Hormuz shut in the biggest disruption to global supplies ever.

U.S. stock-index futures reversed early losses on Sunday as the market braced for more volatility in oil prices this week, with the conflict with Iran threatening to escalate further.

If oil remains above $90 a barrel, that could trigger a "domino effect" in global stocks while hitting economic growth, JPMorgan said.

There is no short-term fix for the quagmire in Iran and high oil prices. Add uncertainty about jobs and inflation and there might be a recession in the near future.

The move is likely to be a boon to Russia as the United States tries to stem the economic fallout from its war on Iran as the price of crude has soared.

U.S. gas prices are surging as the Iran war drives up the global cost of oil. But what exactly accounts for what you pay at the pump?

Iran conflict drives oil toward $100. Here are 3 market indicators: credit spreads, financial conditions and recession odds, that investors should watch now.

The International Energy Agency said the closure of the Strait of Hormuz has triggered the largest disruption to global oil markets in history, with supply expected to fall by about 8 million barrels per day in March,

The worst global oil crisis in decades could become a major problem for the Federal Reserve, whose policymakers meet this week to determine the next moves for the US economy.