Oil prices rise as a deal to end the Middle East war seemed further out of sight with Iran saying it will adopt a more offensive stance and the US ruling out extending a ceasefire agreement, heightening worries about energy supply, Reuters reports.
Brent crude futures climbed 27 cents, or 0.3 per cent, to $91.14 by 0003 GMT, after rising to their highest since July 30 on Monday.
US West Texas Intermediate crude futures were up 42 cents to $85.04 a barrel, after gaining more than 1pc earlier in the session to $85.37, their highest since July 31.
“Oil has jumped to start the week as US-Iran relations look increasingly shaky. A deal to reopen the Strait of Hormuz still does not appear to be in sight, and shipping numbers remain at a trickle,” said chief market analyst at KCM, Tim Waterer.
