Oil prices have risen by more than 1 per cent after US President Donald Trump said the new ceasefire agreement with Iran was not final and the Iran war could resume if he is unsatisfied, Reuters reports.

Brent crude futures were up 89 cents, or around 1.1pc, at $79.85 a barrel at 1534 GMT, while US West Texas Intermediate gained 91 cents, or 1.2pc, to $76.96.

Both contracts hit their lowest since early March earlier in the session.