Pakistan, Aug. 12 -- Oil prices moved closer to $90 a barrel on Wednesday as hopes for a US-Iran peace deal weakened. Fresh attacks on shipping also increased concerns about possible supply disruptions. Brent crude rose 72 cents, or 0.81%, to $89.63 a barrel. US West Texas Intermediate crude gained 71 cents, or 0.85%, to $83.91. Both benchmarks extended gains from the previous session.

Read More: Hormuz uncertainty pushes oil prices higher

Brent and WTI settled more than $1 higher on Tuesday. Their latest closing levels were the highest since July 31. Prices also jumped around 5% on Monday as hopes for a diplomatic agreement between Washington and Tehran faded. Meanwhile, shipping security remains a major concern for energy markets. Sep...