Oil prices have continued to rise in the wake of the renewed conflict between Iran and the United States.

Brent crude climbs more than 4 percent as Washington and Tehran clash over control of critical waterway.

Brent crude climbed above $78 and WTI gained over 3% as escalating Iran-US tensions and threats to Strait of Hormuz shipping raised global supply concerns.

Oil prices climbed to their highest level in four weeks on Tuesday after the United States reinstated a naval blockade on Iran and intensified military strikes, while Tehran…