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Oil prices rose by more than a dollar in early trading on Wednesday, continuing their gains for the fourth consecutive session, as tensions in the region escalated following new Iranian attacks on US military facilities in the Gulf.
Brent crude futures rose $1.57, or 1.6%, to $99.49 a barrel by 00:01 GMT, while US West Texas Intermediate crude increased $1.60, or 1.72%, to $94.63.
The price of Brent crude has risen by about 25% since the beginning of August, amid fading hopes for a permanent solution to the six-month-old war and renewed fighting.
US Secretary of State Marco Rubio warned Tehran that the United States would continue to target Iranian oil tankers in response to attempts to attack US warships.
Rubio told reporters during a visit to Colombia that Iran "continues its attempts to strike US Navy ships," adding that "every time it does that or attempts to do so, it will lose oil tankers."
The US Central Command announced on Tuesday that its forces destroyed five Iranian crude oil tankers on September 8, following attempts to attack a US Navy warship with ballistic missiles over the previous two days.
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