Crude futures rose midday Tuesday as continued U.S. strikes against Iranian targets and Iranian attacks on vessels in the Strait of Hormuz reinforced concerns over disruptions to the key oil-shipping route.

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

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…