Doha: Oil prices continued to rise on Tuesday as efforts to end the war between the United States and Iran stalled, with the Strait of Hormuz remaining almost completely closed. Brent crude futures for June delivery rose 45 cents, or 0.4 percent, to $108.68 a barrel, after climbing 2.8 percent in the previous session, marking their highest closing level since April 7. It rose for the seventh consecutive day.
According to Qatar News Agency, US West Texas Intermediate (WTI) crude futures for June delivery climbed 58 cents, or 0.6 percent, to $96.96 a barrel, after rising 2.1 percent in the previous session. The ongoing situation has led to a consistent increase in oil prices, with the market closely monitoring further developments in the US-Iran relations.