Oil prices extended hefty gains Tuesday as hopes for a reopening of the Strait of Hormuz fade, fanning fresh inflation fears and ramping up bets on at least one US interest rate hike this year.

PERTH, Aug 10 : Oil prices rose on Monday as uncertainty continued over the reopening of the Strait of Hormuz as Iran said a deal with Oman defining new shipping lanes was in its…

PERTH, Aug 10 : Oil prices rose on Monday on uncertainty over the reopening of the Strait of Hormuz anytime soon, as Iran said a deal with Oman defining new shipping lanes was in…