Oil markets rose after Iran accused the United States of violating elements of a two-week ceasefire agreement.

Crude oil fell sharply after Washington and Tehran agreed a 2-week cease-fire deal that included allowing shipping to transit the key Strait of Hormuz

Oil markets rose after Iran accused the United States of violating elements of a two-week ceasefire agreement.

Gas prices also increase, while global stock markets slip back after strong rally on Wednesday

Benchmark U.S. crude was 3.1% higher on Thursday at $97.30 a barrel.

Oil prices were on the rise again amid concerns a "fragile" U.S.-Iran cease-fire could unravel over the Hormuz Strait and ongoing clashes in Lebanon.