Oil prices inched higher on Tuesday as conflict in the Middle East continues to intensify, disrupting global oil supplies for over six months now. Brent crude was up 0.05%, or $0.05, at $97.05 while WTI crude rose 1.03%, or $0.94, to $92.42.

Brent hovers near $97 as Hormuz disruptions keep risk premium elevated

Brent crude futures climbed 52 cents, or 0.54%, to $96.80 a barrel by 2354 GMT while U.S. West Texas Intermediate crude was at $92.14 a barrel, up 66 cents, or 0.72%.