Oil prices rose more than 1% on Thursday after the U.S. carried out fresh strikes on Iran, denting hopes for talks to end their war and for the full reopening of the Strait of Hormuz, a chokepoint for one-fifth of pre-war global oil supplies.
Brent crude futures rose 86 cents, or 1.1%, to $78.88 a barrel by 0352 GMT. U.S. West Texas Intermediate crude futures were up 85 cents, or 1.2%, at $74.37 a barrel.
Both crude benchmarks, WTI and Brent, rose more than a dollar in post-settlement trade on Wednesday after the U.S. military began launching fresh strikes on Iran.
Before that, the benchmarks had settled at their highest in over two weeks after U.S. President Donald Trump threatened new attacks on Iran.
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