India, Sept. 29 -- Global oil markets opened the week under renewed pressure as uncertainty over the Iran-US conflict pushed traders to focus on how long disruptions around the Strait of Hormuz could continue. Brent crude moved above $108 a barrel after gaining more than 3%, with investors watching diplomatic efforts, Saudi Arabia's alternative export routes and signs of tighter near-term supplies.

The Strait of Hormuz remains at the centre of the oil market because any prolonged disruption can restrict the movement of crude and petroleum products from the Gulf. Recent shipping data has shown traffic through the waterway falling sharply from pre-conflict levels, adding to concerns about the availability of physical oil.

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