Crude oil contracts rose by more than $1 around midday Tuesday after a new round of attacks by Iran on oil tankers near the Strait of Hormuz, while further gains were limited due to lingering worries over a global oil glut.

Crude oil futures rise amid reports of missile attacks on tankers in the Strait of Hormuz, heightening market tensions.

July 7 : Oil prices rose on Tuesday after reports of attacks on vessels near the Strait of Hormuz revived fears of disruptions to shipping through the critical energy transit…