Singapore: Oil prices extended gains on Tuesday as risks of a prolonged conflict in the Middle East grew, heightening worries over supply disruption.
Brent crude futures climbed 34 cents, or 0.35 %, to $97.34 a barrel. US West Texas Intermediate crude was at $92.63 a barrel, up $1.26, or 1.26%.
Brent crude hit its highest level since July 24 in the previous session, as traders continued to price in a risk premium amid escalating tensions around the Strait of Hormuz, a key route for global crude oil shipments.
