Brent crude climbed 3.8% to $94.36 a barrel as WTI rose 4.3%, putting the U.S. benchmark on pace for its highest settlement in over a month

Oil prices climbed more than 2% after renewed U.S.-Iran fighting raised fresh fears of disruption to shipping and crude exports through the Strait of Hormuz.

Oil prices climbed over 2% to exceed $90 after US forces targeted Iranian launchers near the Strait of Hormuz, heightening fears of supply disruptions and regional instability.