Oil prices rose 2 per cent on Tuesday to their highest level in four weeks after the United States reimposed its naval blockade on Iran.
Brent crude futures gained $1.68, or 2 per cent, to $84.98 per barrel. US West Texas Intermediate added $1.65, or 2.1 per cent, to $79.79 per barrel.
The move follows an already sharp session for Brent, which jumped 9.6 per cent the previous day, marking its largest single-day gain since May 2020.
