Oil prices are at their highest since the two countries signed a memorandum of understanding to end the war in June.

Oil prices are at their highest since the two countries signed a memorandum of understanding to end the war in June.

July 14 : Oil prices rose 2 per cent on Tuesday to their highest in four weeks, as the U.S. reimposed its naval blockade of Iran while the two countries stepped up attacks in the Strait of Hormuz, heightening uncertainty about energy flows.Brent crude futures climbed $1.68, or 2 per cent, to $84.98 per barrel

July 14 : Oil prices rose 2 per cent on Tuesday to their highest in four weeks, as the U.S. reimposed its naval blockade of Iran while the two countries stepped up attacks in the Strait of Hormuz, heightening uncertainty about energy flows.Brent crude futures climbed $1.68, or 2 per cent, to $84.98 per barrel