Brent crude futures climbed $2.09, or 2.37%, to $90.19 by 0241 GMT, touching the highest since June 11, extending gains after rising 15.9% last week, its biggest weekly gain since April
Oil prices climbed to a four-week high after the US reinstated its blockade of Iranian shipping and both sides intensified attacks around the Strait of Hormuz
The price of Brent crude, the international standard, gained 3.9 per cent to $78.96 per barrel, while US benchmark crude oil added 4 per cent to $74.26 per barrel
Oil prices edged lower on Friday as inflation concerns weighed on demand, but crude remained on track for strong weekly gains amid renewed US-Iran strikes and uncertainty over the Strait of Hormuz
Brent crude futures gained $1.38, or 1.9%, to $75.54 a barrel, and US West Texas Intermediate crude climbed to $71.81 a barrel, up $1.37, or 1.9% at 0128 GMT
Brent crude futures gained 28 cents, or 0.39%, to $72.29, and US WTI crude rose to $68.84 a barrel, up 29 cents, or 0.26% as of 0046 GMT, after settling down to around pre-Iran war levels on Monday
Petroleum Minister Hardeep Singh Puri said rising crude prices during the West Asia conflict led to ₹74,781 crore in losses for state-run OMCs till June 30
Brent futures rose 50 cents or 0.69% to $73.45 a barrel at 1208 GMT, while US West Texas Intermediate (WTI) crude climbed 63 cents, or 0.91%, to $70.13 a barrel
Brent crude fell 10.6% last week, its third weekly decline, after crude shipments through the strait rose last week to their highest level since the US-Israeli conflict with Iran began in February
Brent crude futures fell 19 cents, or 0.25%, to $75.07 a barrel as of 0055 GMT, while US West Texas Intermediate fell 13 cents, or 0.18%, to $71.79 a barrel
Brent crude futures fell 78 cents, or 1.0%, at $76.30 a barrel as of 0350 GMT. US West Texas Intermediate slipped 78 cents, or 1.1%, to $72.43 a barrel
On Monday, oil prices fell nearly 5 per cent to their lowest close since March 4, after US President Donald Trump said a memorandum of understanding was signed to end the US-Israeli war with Iran
Brent futures were down $2.11 or 2.3 per cent at $88.27 a barrel by 0640 GMT, while US West Texas Intermediate (WTI) crude dropped $1.90, or 2.2 per cent, to $85.81
Prices have been volatile in recent sessions, swinging by as much as $6 for both benchmarks on conflicting signals over a possible end to the three-month US-Israeli war on Iran
The rupee weakened against the dollar as crude oil prices surged following fresh US strikes on Iran and concerns over disruptions in the Strait of Hormuz
