Oil futures continued to rally Monday morning in Asia, with the March ICE Brent contract climbing above $70/b as geopolitical tensions between the US and Iran escalated. Now At 10:08 am Singapore time (0208 GMT), front-month March ICE Brent crude futures were up $1.62/b (2.36%) from Friday’s settle at $70.22/b, while the NYMEX February light sweet crude contract was $1.34/b (2.13%) higher at $64.39/b. The latest gains followed a $2.35/b rise in Brent futures Friday, and a $1.87/b rise in NYMEX crude futures. US President Donald Trump in a series of tweets over the weekend threatened further military action against Iran, should Tehran strike back as promised in response to the US killing of Iranian General Qassem Soleimani. “These Media Posts will serve as notification to the United States Congress that should Iran strike any U.S. […]