US-Iran Conflict Sends Oil Prices Soaring Amid Disruption Fears

Oil prices rose on Tuesday as renewed fighting between the US and Iran in the Middle East raised fears of supply disruptions from the region's key crude-producing area.

Brent crude futures were up 56 cents, or 0.6%, to $91.05 a barrel at 0044 GMT, while U.S. West Texas Intermediate crude was up 83 cents, or 1%, to $86.59.

The resumption of fighting between the two countries follows US President Donald Trump's threat of further strikes against Iran on Monday, which raised tensions in a conflict that had recently shifted into an economic standoff.

Analysts say the potential for Iranian retaliation has increased, raising the prospect of damage to energy infrastructure around the Gulf and adding uncertainty for shipping through the Strait of Hormuz.