There have been days of missile strikes between Israel and Iran, and oil markets are responding.

"Never try and predict what the price of oil is going to be, because there's one sure thing: You're going to be wrong," says Baker Hughes CEO Lorenzo Simonelli.

The country’s exports mostly come from Kharg Island in the Persian Gulf. But Israel’s energy facilities are also at risk.

Oil prices climbed on Monday, extending Friday's rally, as renewed strikes by Israel and Iran over the weekend increased concerns that the battle could widen across the region and significantly disrupt oil exports from the Middle East.

Israel has targeted Iranian energy infrastructure, including the world’s largest gas field, South Pars, which Iran shares with Qatar. CNN’s Becky Anderson speaks with analyst Firas Maksad about how this escalation poses a significant threat to global energy security.

Israeli energy company Bazan said its Haifa oil refinery suffered pipeline and transmission line damage during Iran’s overnight missile barrage. Refining core facilities continue to operate at the site,

Israel unleashed airstrikes across Iran for a third day on Sunday and threatened even greater force as some Iranian missiles evaded Israeli air defenses to strike buildings in the heart of the

Market watchers believe a full-scale disruption of global oil flows by closing the waterway is unlikely, and might even be physically impossible.