Oil prices extended their rally as renewed U.S.-Iran strikes sharply increased the risk of further disruption in the Strait of Hormuz.

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 jump over 3.5% as US-Iran strikes raise Strait of Hormuz fears, with Brent crude topping $91 and markets worried about global oil supplies.