Brent crude nears $85 a barrel amid renewed hostiles between Washington and Tehran.

Brent crude, the global oil benchmark, quoted 1.63 per cent higher at USD 84.60 per barrel. Check petrol and diesel prices in some of the major Indian cities.

Oil prices on Tuesday were continuing to climb from the previous session, with both the U.S. and global benchmarks on track for their largest two-day advances in four months, as the U.S. launched strikes on Iran for the third night in a row.

Oil prices jumped Monday following a weekend of attacks in the Middle East, while more losses for computer chip companies and o

Oil prices climbed about 2% to a one-month high on Tuesday after the US reimposed a naval blockade on Iran, which will reduce oil flows from the region through the Strait of Hormuz.

The latest escalation, including the US blockade and Iranian responses, has injected fresh risk into markets.

The U.S. launched strikes on Iran early Tuesday, hours after President Donald Trump vowed to reinstate an American blockade of Iranian ports and charge ships for safe passage through the Strait of Hormuz.