SINGAPORE: Oil prices climbed more than $5 on Thursday, as President Donald Trump said the US would keep up attacks on Iran without committing to a specific timeline to end the war, fanning investor fears about sustained disruptions to supply. Brent crude futures rose $6.33, or 6.3 percent, to $107.49 per barrel by 07:07 a.m. Saudi time. US West Texas Intermediate crude futures were up $5.28, or 5.3 percent, to $105.40 per barrel.

Crude prices extended gains as traders weighed escalating attacks in the Persian Gulf and signs that President Donald Trump was contemplating an exit from the Iran conflict.

Oil rose in volatile trading as Trump in his address to the nation on Iran war said that he expected the conflict to last another two to three weeks.