Middle East tensions, pitting Israel against Iran, added a geopolitical risk premium to the price of oil in a Monday session thinned by a U.S. federal holiday. Speaking at a security conference in Munich during the weekend, Israeli Prime Minister Benjamin Netanyahu — holding a piece of wreckage said to be from an Iranian drone shot down by Israeli forces earlier this month — said his patience was wearing thin. Pointing to a U.N.-backed agreement that pulls Iran back from its nuclear research program in exchange for oil-related concessions, the prime minister said Tehran is an emboldened aggressor in the region. “We will act without hesitation to defend ourselves,” he said in his remarks. “And we will act, if necessary, […]