London-based Brent crude contracts were trading sharply higher on Tuesday after Iran vowed to retaliate against violations of its recent cease-fire agreement with Washington following new U.S. attacks on Tehran's military assets.

Oil prices saw a jump on Tuesday. This followed U.S. military strikes in southern Iran. Tensions remain high as a deal to end the conflict appears uncertain. Iran has disrupted…

Oil prices rebounded after U.S. strikes on Iranian targets near the Strait of Hormuz revived fears that the fragile path toward reopening the chokepoint could unravel.