New Delhi, April 30 -- Global oil prices extended gains on Thursday, after a sharp 7% jump in the previous session, as the US's stance on Iran stoked fears of prolonged supply disruptions.

Brent crude traded close to $120 a barrel, following comments by US President Donald Trump that Washington would not end the ongoing naval blockade of the Strait of Hormuz until a nuclear deal is signed with Iran.

The June contract of Brent on the Intercontinental Exchange was trading at $119.80 per barrel early Tuesday, up 1.50% from its previous close, while the June contract of West Texas Intermediate on the Nymex rose 0.36% to $107.26 a barrel.

In an interview with US news website Axios on Wednesday, Trump said, "The blockade is somewhat more eff...