U.S. and Israeli forces pressed ahead with attacks on Iran while the Islamic Republic launched missiles across the Persian Gulf, sending oil prices higher once again amid no sign of an imminent peace deal.

The Israeli military said on Monday that it’s carrying out airstrikes on Iranian military targets a day after attacks resulted in power outages in the capital, Tehran, and nearby areas. The United Arab Emirates issued multiple alerts overnight and Saudi Arabia and Kuwait reported strikes.

“Big day in Iran,” U.S. President Donald Trump said in a social media post late Sunday. “Many long sought after targets have been taken out and destroyed by our GREAT MILITARY.”

Fierce and widespread attacks in the war — now in its second month — continue even after the U.S. extended a deadline for Tehran to agree to reopen the Strait of Hormuz, through which about a fifth of the world’s oil and liquefied natural gas typically flows.

The U.S. military said over the weekend that about 3,500 sailors and Marines have arrived in the Middle East on an amphibious assault ship. The Tripoli Amphibious Ready Group that arrived in the region also has fighter aircraft, as well as amphibious assault equipment.

Brent crude — on track for a record monthly increase — surged as much as 3.7% to $116.75 a barrel in Monday trading.

Trump told reporters aboard Air Force One on Sunday that an agreement to end fighting could come soon, claiming that Iran “gave” the U.S. most of the 15 demands it had issued, without offering specifics. There’s been no comment from Iran that such concessions have been offered, with Tehran having publicly rejected the proposal last week.

Iran has insisted on its own conditions to end hostilities, in a five-point plan that includes demands — such as the payment of war reparations — that Trump and Israel are unlikely to accept.

Fears of a prolonged military campaign in the Middle East have pushed stocks lower, with equities in Asia and emerging markets declining on Monday. Oil’s advance since the start of the year is now around 90%, stoking expectations of slower growth and faster inflation worldwide.

Iran-allied Houthi militants in Yemen entered the war over the weekend, launching missiles and drones at Israel, adding an additional front to the fighting. Saudi Arabia intercepted several drones early Monday. Kuwait said it downed four projectiles after another Iranian attack involving 14 ballistic missiles and 12 drones, which injured 10 army personnel at a military camp.

More than 4,750 people have been killed so far, roughly three-quarters of them in Iran.

In an interview Sunday with the Financial Times, Trump said he wants to “take the oil in Iran,” which would involve occupying the country’s main export hub of Kharg Island, which also houses an Iranian naval base. That would mark a major escalation of the conflict, involving U.S. ground troops.

“Our men are waiting for American soldiers to enter on the ground,” Iranian Parliament Speaker Mohammad Bagher Ghalibaf said, according to the semi-official Tasnim news agency.

Trump is also considering a military operation to seize Iran’s near-bomb-grade uranium, three diplomatic officials briefed on the matter told Bloomberg News earlier this month.

Pakistan said it was ready to facilitate peace talks between the U.S. and Iran in the coming days after hosting a meeting of foreign ministers from Saudi Arabia, Turkey and Egypt. Pakistani Foreign Minister Ishaq Dar, who didn’t elaborate on the timeline or the likelihood of such talks taking place, called for creating the right conditions for structured discussions between the parties.

Trump has pushed for negotiations as U.S. gas prices soar in a congressional election year. He twice delayed a deadline for Tehran to agree to reopen the Strait of Hormuz — where vessel traffic is near a standstill — or face the destruction of its power plants.

Iran’s weekend strikes on Middle Eastern aluminum plants are threatening to send a fragile market into crisis, raising the prospect of record prices for the metal used in everything from airplanes to food packaging and solar panels.

The International Atomic Energy Agency said Sunday that Iran’s Khondab heavy water plant sustained severe damage from U.S.-Israeli attacks. Heavy water is used in nuclear power and for weapons-grade plutonium.

One stated aim of the war is to destroy Iran’s nuclear capabilities, with Trump saying that the Islamic Republic was getting close to making a bomb before the American military campaign began. Iran has repeatedly said its atomic program has a civilian nature and that it wasn’t pursuing nuclear weapons.

The war started on Feb. 28 when the U.S. and Israel bombed Iran and has since widened to more than a dozen countries in the Middle East, resulting in lower oil output in Arab states and reducing shipping through Hormuz to a trickle.

The true location of ships trapped in the Persian Gulf is becoming somewhat clearer after electronic interference of signals eased over the weekend.

While threats to ships in the inland sea and Hormuz remain elevated, the widespread jamming that obscured the actual location of vessels has moderated in the Gulf, the Joint Maritime Information Center said in its latest advisory.

A strike on Prince Sultan Air Base in Saudi Arabia on Friday wounded at least 15 U.S. troops and damaged a U.S. E-3 Sentry, according to a person familiar with the matter. The aircraft, which costs about $300 million, is equipped with radar to track drones and missiles. Unverified photos showed its tail severed, rendering it unflyable.

The war has left over 4,750 people dead, according to governments and non-governmental agencies. Around three-quarters of fatalities have been in Iran, while more than 1,100 people have died in Lebanon, where more than a million people have been displaced. Dozens of people have been killed in Israel and Arab Gulf states.

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