SINGAPORE - Oil rose after a report that the United States and Iran have agreed to stop attacking each other, following a flare-up that saw a supertanker carrying Qatari crude hit near the Strait of Hormuz.Brent jumped as much as 1.9 per cent to US$73.39 a barrel, before paring some gains, while West Texas Intermediate was near US$70.Among tit-for-tat assaults over the weekend, the US struck Iranian military targets after Tehran attacked the vessel near the critical waterway. Meanwhile, the two sides have agreed to meet on June 30 in Doha, Axios reported, citing unidentified US officials.The Kiku - the hit very large crude carrier that was carrying about 2 million barrels of oil - last signalled its location off Fujairah, a United Arab Emirates port in the Gulf of Oman, and listed its navigation status as “not under command.” It isn’t yet clear how oil shipments through the strait - which had picked up again following the interim agreement between the sides - were affected by the latest flare-up.“The market feels increasingly comfortable treating these moves as tactical rather than structural,” said Haris Khurshid, chief investment officer at Chicago-based Karobaar Capital. “Until something fundamentally changes, traders are happy to fade both the rallies and the sell-offs.”While traffic had increased and the US Central Command said on June 27 that commercial vessel transit through the strait continued, some tankers have aborted exit attempts. Shipowners will likely remain wary of crossing the chokepoint as hundreds of ships remain trapped in the Persian Gulf. BLOOMBERG