US crude futures have risen in early trade today, Reuters reports, despite Washington’s announcement that it would indefinitely extend a ceasefire with Iran, as uncertainty over peace talks persisted and the Strait of Hormuz remained effectively closed.

US West Texas Intermediate crude futures climbed as high as $90.70 a barrel and traded up 59 cents, or 0.7 per cent, at $90.26 at 22:15 GMT (3:15am PKT). The benchmark contract rose 2.8pc on Tuesday.