Oil prices have climbed more than $4 after President Donald Trump said the United States would continue to attack Iran, including energy and oil targets over the next few weeks, and did not commit to a specific timeline to end the war, Reuters reports.

Brent crude futures rose $4.88, or 4.8 per cent, to $106.04 per barrel by 02:00 GMT (7am PKT). US West Texas Intermediate crude futures were up $4.17, or 4.2pc, to $104.29 per barrel.

The gains come after both benchmarks had fallen more than $1 earlier today ahead of Trump’s speech and had settled lower in the previous session.