Oil rose for a third day as a fresh exchange of strikes between the US and Iran cast doubt on the prospects of a peace deal that would reopen the Strait of Hormuz.
West Texas Intermediate Crude rose 2.4 per cent to settle at US$96 a barrel, expanding its gains so far this week to about 9.6 per cent.
Shortly after hitting an empty oil tank aheading to Iran on Tuesday, the US military said it came under missile and drone attack.
Iran targeted the US's main naval base in the region and another in Kuwait.
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