Brent crude rose 1.2 per cent in early Asian trade as tensions around the Strait of Hormuz pushed prices higher.
Oil prices extended their gains in early Asian trade, driven by mounting concern over the Strait of Hormuz. Brent crude rose 1.2 per cent to $83.48 a barrel, while WTI added 1.1 per cent to $78.84.
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Oil prices continued to climb in early Asian trading, with concern over the Strait of Hormuz adding pressure to an already tightening market.
Brent crude futures rose 99 cents, or 1.2 per cent, to $83.48 a barrel. West Texas Intermediate futures gained 85 cents, or 1.1 per cent, to reach $78.84 a barrel.
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