Oil prices rose on Tuesday as renewed military tensions between the United States and Iran revived concerns that the conflict could continue to disrupt crude supplies from the Middle East.
Oil prices surged more than 2% on Monday after a fresh exchange of US and Iranian attacks around the Strait of Hormuz renewed the risk of disruption to crude shipments through the key oil chokepoint.
US President Donald Trump on Thursday said he had cancelled planned military strikes against Iran after negotiations reached what he described as the highest levels of Iran's leadership, raising hopes of a breakthrough agreement that could end days of fighting and reopen the Strait of Hormuz.
As the deadline set by US President Donald Trump to Iran to agree a deal nears, he has posted a stark message on his social media warning that a civilisation could die tonight.
US President Donald Trump has said in an interview with Financial Times that he wanted to "take the oil in Iran" and could seize the export hub of Kharg Island.
