India, Aug. 18 -- Oil prices edged higher on Tuesday amid rising U.S.-Iran tensions and concerns over the prospects of a diplomatic resolution to reopen the Strait of Hormuz, a key route for global energy supplies.
Brent crude futures traded 0.2 percent higher above $91 barrel after settling at their highest level since late July on Monday. WTI crude futures rose 0.4 percent to $84.11.
U.S. President Donald Trump said that he is not interested in renewing the expiring ceasefire agreement with Iran and threatened to bomb Oman if it "gets in the way" of a deal with Iran on the Strait of Hormuz.
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