Oil prices have climbed as markets reopened in Asia after the weekend amid continued uncertainty over the reopening of the Strait of Hormuz, according to Reuters.
Brent crude futures rose 91 cents or 1.09 percent, to $84.46 a barrel by 00:56 GMT, while US West Texas Intermediate crude futures rose 61 cents, or 0.78 percent, to $78.79 a barrel.
Both benchmarks had fallen more than 7 percent last week on hopes that Iran and Oman were close to reaching a deal on the Strait of Hormuz, through which a fifth of the world’s oil transited before the war.
Tehran says a deal with Oman is in its final stages, but stressed that the US must still meet several conditions.
MNA
Your Comment