US-Iran war, March 17 -- Crude oil prices climbed more than 2% in early trading on Tuesday, March 17, recovering part of the losses from the previous session, amid concerns over supply disruptions as the Strait of Hormuz remained largely shut and US allies resisted calls to deploy warships to assist tankers through the key route.

Brent crude futures rose $2.48, or 2.5%, to $102.69 a barrel, while US West Texas Intermediate (WTI) crude advanced $2.42, or 2.6%, to $95.92. In the previous session, Brent had settled 2.8% lower, while WTI crude dropped 5.3% after some vessels managed to pass through the crucial waterway.

Back home, crude oil prices on the Multi Commodity Exchange (MCX) also followed a similar trend. MCX crude oil prices were...