File photoAfter fresh round of hostilities in the Middle East despite interim peace agreement between Iran and US, Brent crude futures climbed 58 cents, or 0.8%, to $72.57 a barrel at 0207 GMT on Monday, Reuters reported.Iran launched missiles and drones at US military sites in Kuwait and Bahrain early on Sunday, shortly after President Donald Trump threatened to wipe out the Iranian leadership if they did not adhere to the interim agreement. The US military said it had struck Iran in response, hours after a tanker was hit in the Strait of Hormuz.Adding to regional tensions, Israel said on Sunday it had struck Iran-backed Hezbollah militants in Lebanon on Saturday, just a day after agreeing to the latest ceasefire deal with Lebanon to calm fighting that Iran has said must end for the wider agreement to hold.Despite the sharp deterioration, Iran and the US agreed on Sunday to halt recent hostilities in the Gulf and resume talks over their dispute regarding the Strait of Hormuz, according to a US official."There's still ⁠plenty of risk facing the oil market. Even so, participants appear to be ... focusing on what a continued recovery in oil flows would mean for the global balance," ING analysts told Reuters in a note.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 war on Iran began in late February.From Thursday (June 25) onwards, traffic through the strait slowed again following renewed attacks on ships, including a Qatar-linked oil tanker, which triggered retaliatory strikes from both Washington and Tehran in what analysts called the worst escalation since the interim deal was signed.