Oil Prices Rise Amid Escalating Middle East Violence

Oil prices continued their upward trend on Tuesday, rising to $91.23 per barrel as Brent crude gained 0.8%, following a 2.7% increase on Monday after a US attack on Iranian rocket launchers.

The escalating violence in the Iran war has added to uncertainty over its future, with oil prices remaining high despite an initial surge earlier in the conflict.

The Strait of Hormuz, which accounts for about 20% of the world's oil shipments, has seen curtailed traffic due to the war, making oil more expensive and affecting everything from gasoline to shipped goods.

In Asian share trading, Hong Kong's Hang Seng fell 0.9%, while Tokyo's Nikkei 225 edged 0.2% higher. The US dollar rose to 159.94 Japanese yen from 159.74 yen.