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SINGAPORE (Reuters) -Oil prices extended gains for a third session on Monday, with Brent rising above $80 a barrel to its highest in more than four months, as wider U.S. sanctions are expected to affect Russian crude exports to top buyers China and India. Brent crude futures climbed $1.14, or 1.43%, to $80.90 a barrel by 0741 GMT after hitting an intraday high of $81.49, the highest since Aug. 27. Brent and WTI have risen by more than 6% since Jan. 8, and both contracts surged after the U.S. Treasury imposed wider sanctions on Russian oil on Friday.

Energy analysts weigh in on the impact a second Trump administration could have on the oil and gas industry, and how policies might affect gasoline prices.

Saudi Arabia, which leads the group, appears wary of unsettling markets just before the U.S. presidential election on Tuesday.

Israel and Iran are fighting at a time when prices are under pressure because of weak demand in China and concerns about oversupply.

Oil prices have surged amid escalating tensions in the Middle East, with traders hedging against a "worst-case scenario" that could see prices climb to $100 a barrel.

China has strategic reserves and alternatives like electric cars, should oil imports ever be interrupted.

Oil spiked as much as 4% on concerns of a possible strike against Iran's oil production facilities.

Any extended rise in energy prices raises the possibility of higher petrol prices and energy bills.

The fighting is increasing fears about oil supplies, but those worries are offset by greater global production and slowing demand in China.

Through countless wars and skirmishes in the Middle East, the oil has kept on flowing.

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