Oil prices continued to gain ground on Tuesday as the possible resurgence of Middle East conflicts sparked concerns about supply. Following the United States' strikes in Yemen and Israel's large-scale attacks on the Gaza Strip, the Yemeni militant group Houthis vowed to escalate the confrontation. The Houthis were responsible for disruptions of the Red Sea shipping route last year as they repeatedly targeted international cargo vessels.

West Texas Intermediate for deliveries in April added 1.23% at 7:16 am ET, going for $68.43 per barrel. Brent for settlements in May rose by 1.27% at 7:17 am ET and sold for $71.90 per barrel.