Oil rises as uncertainty continues over reopening of Strait

PERTH, Aug 10 : Oil prices rose on Monday as uncertainty continued over the reopening of the Strait of Hormuz as Iran said a deal with Oman defining new shipping lanes was in its final stages, but the U.S. must still meet other conditions.

Brent crude futures rose $1.20, or 1.44 per cent, to $84.79 by 2206 GMT while U.S. West Texas Intermediate was at $79.29 a barrel, or 1.08 per cent, rising $1.12.