Oil climbs over 2 percent as Iran war halts supply

Oil prices rose more than 2 percent on Tuesday, reversing some ​of the previous session’s losses, on worries about supply with the Strait of Hormuz mostly shut and US allies rebuffing calls to send warships to help tankers move through the vital waterway. Brent futures jumped $2.74, or 2.7 percent, to $102.95 a barrel by 0357 GMT, while US West Texas Intermediate crude gained $2.45, or 2.6 percent, to $95.95. In the previous session, Brent futures settled 2.8 percent lower while US West Texas Intermediate (WTI) crude slid 5.3 percent after some vessels sailed through the critical waterway.

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