Shipping data on Monday also showed the number of tankers transiting the Strait of Hormuz fell in the past day to the lowest level in two months.

The U.S. and Iran disputed whether Hormuz was open to ship traffic after trading strikes over the weekend.

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

Crude oil futures surge over 4% amid escalating US-Iran conflict and threats to the vital Strait of Hormuz.

Brent surges more than 4 per cent as US-Iran conflict escalates

Iran says it will not allow Washington to intervene in the Strait of Hormuz