US-Iran war, Aug. 12 -- Oil prices climbed on Wednesday as uncertainty over a potential US-Iran peace agreement, along with attacks on two vessels, raised concerns over possible disruptions to crude supplies from the Middle East. The gains came despite industry data pointing to a rise in US crude inventories.

Brent crude futures had risen 72 cents, or 0.81%, to $89.63 a barrel, extending its rally to a sixth day, while US West Texas Intermediate (WTI) crude was up 71 cents, or 0.85%, at $83.91.

Both benchmarks ended more than $1 higher in the previous session, reaching their highest closing levels since July 31. The gains followed a roughly 5% surge on Monday, as optimism over a possible US-Iran peace deal weakened.

Pakistan's Defence ...