Oil prices extended gains on Tuesday as a U.S.-imposed deadline loomed for Iran to open the Strait of Hormuz or be “taken out”, with U.S. President Donald Trump threatening to order attacks on Iranian bridges and power plants.
Brent crude futures LCOc1 rose $1.74, or 1.6%, to $111.51 a barrel by 0530 GMT, while U.S. West Texas Intermediate crude CLc1 futures were up $3.45, or 3.1%, at $115.86.
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