Brent oil has risen above $100 per barrel again as tanker traffic through the strait remains at a near standsill.

Earlier, U.S. President Donald Trump said he would indefinitely extend the ceasefire with Iran, hours before it was due to expire.

Standoff between Iran and US continues as both impose blockades of critical shipping waterway

Brent oil has risen above $100 per barrel again as tanker traffic through the strait remains at a near standsill.

Jump in prices comes as Donald Trump says vessels will need permission of US Navy to transit key waterway.