Oil prices rise after ships seized in Strait of Hormuz

Oil prices gained on Thursday after reports of three vessels being attacked in the Strait of Hormuz by Iranian forces.

Brent, the global benchmark for crude, is hovering around $103 (£76.35) a barrel, while US-traded oil climbed above $94, reports BBC.

Prices have climbed since US President Donald Trump announced a ceasefire extension on Tuesday to give Iran more time to make a deal.