Oil prices jumped above $91 per barrel in early trade on Tuesday amid fading hopes for a deal to end the war in the Middle East, with Iran declaring that it will adopt a more offensive stance and the US ruling out extending a ceasefire agreement, triggering more worries about energy supply.
Brent crude futures rose 39 cents, or 0.4%, to $91.26, while US West Texas Intermediate crude futures jumped 51 cents to $85.31 a barrel, extending gains. Both benchmarks gained more than 5% last week after attacks on tankers operated by Abu Dhabi National Oil Company in the Strait of Hormuz and an attack on a Saudi Aramco refinery.
