Oil prices have extended gains on concerns supply from the key Middle East producing region will remain bottled up for longer as talks to end the US-Israeli war against Iran have deadlocked, Reuters reports.

Brent crude futures for June rose $1.91, or 1.62 per cent, to $119.94 a barrel as of 00:57 GMT (5:57am PKT) after gaining 6.1pc in the previous session. The June contract, which has increased for a ninth day, expires on Thursday and the more active July contract was at $111.38, up 94 cents, or 0.85pc, after gaining 5.8pc in the previous session.

US West Texas Intermediate futures for June were up 63 cents, or 0.59pc, at $107.51 a barrel, after climbing 7pc in the previous session, climbing in eight of nine sessions.