Oil prices rise for fourth straight day on US-Iran concerns, Price of Brent oil up above $92 per barrel on London’s ICE

Oil prices are extending their gains for a fourth consecutive session, with Brent crude futures rising 26 cents or 0.29 percent to $91.28 a barrel as of 00:04 GMT.

US West Texas Intermediate (WTI) crude futures added 37 cents to trade at $85.31.

The increases followed Tuesday’s close at the highest levels since July 24, as fading prospects for peace between the US and Iran raised supply concerns, with investors evaluating contradictory statements from Washington and Tehran regarding ship passage through the Strait of Hormuz.