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.

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.