Sri Lanka, April 9 -- Oil prices rose on Thursday on investors' concerns supply from the key Middle East producing region may not fully resume amid doubts the two-week ceasefire between the U.S. and Iran will hold and as the crucial Strait of Hormuz remains restricted.

Brent crude futures were up $2.6, or 2.74 per cent, at $97.35 a barrel at 0048 GMT, while U.S. West Texas Intermediate (WTI) crude rose $3.02, or 3.2 per cent, to $97.43 a barrel.

Both benchmark prices fell below $100 per barrel in the previous trading session, with WTI recording its biggest decline since April 2020 on expectations the ceasefire ending the fighting between the U.S. and Israel against Iran would reopen the Strait of Hormuz.

The waterway connects supply fr...