Oil prices have extended gains to trade near six-week highs as fears of further supply disruptions intensified after US forces struck Iranian military targets for the 11th straight night, while oil tankers made U-turns in the Red Sea after warnings by Houthis, Reuters reports.

Brent crude futures rose $1.84, or 2.0pc, to $92.85 a barrel at 11:30am PKT, the highest since June 11. US West Texas Intermediate crude climbed $1.67, or 2pc, to $86.01, its highest since June 12.

The gains came after oil settled at a five-week high on Tuesday.