Oil rose more than 1 per cent, with Brent futures extending gains after a record monthly rise in March, as Middle East volatility kept markets jittery despite reports that the US-Israeli war on Iran may be nearing an end.

The front-month Brent contract for June climbed $1.40, or 1.4pc, to $105.37 per barrel at 0430 GMT. Brent logged a record monthly gain of 64pc in March, according to LSEG data that dates back to June 1988.

Meanwhile, US West Texas Intermediate (WTI) crude futures for May rose $1.59, or 1.6pc, to $102.97 per barrel.