US crude futures rose in early trade, 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, reports Reuters.

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 2215 GMT. The benchmark contract rose 2.8pc a day earlier.