Brent crude futures gain $3.10 to $107.31 a barrel; US West Texas Intermediate futures up $3.56 at $101.63.

While the Strait of Hormuz remained largely closed, keeping global energy supplies tight, oil prices jumped $3 a barrel on Monday.

Oil prices rose Tuesday amid concerns over a prolonged Middle East conflict after President Trump's comments that the ceasefire with Iran is on "life support"