Global oil prices continued to climb as concerns over shipping activity in the Strait of Hormuz weighed on international markets.
Brent crude futures rose by 1.1 percent, reaching 83.48 dollars per barrel, while US West Texas Intermediate crude gained 85 cents to settle at 78.84 dollars per barrel.
Analysts said the latest increase in oil prices was driven by growing uncertainty surrounding maritime traffic through the Strait of Hormuz.
Earlier, traders had expected prices to decline amid hopes of easing tensions in the region.
At the beginning of the week, crude oil prices fell on expectations of a possible agreement involving Iran and Oman, raising hopes that normal shipping activity through the strategic waterway would resume.
However, Tehran has reportedly proposed, in coordination with Oman, restrictions on vessels linked to countries considered hostile, along with heavy penalties for ships found violating the proposed rules.
No further official details regarding the proposal have been released so far.
