Hopes for a swift end to the Middle East war faded yesterday after US President Donald Trump vowed more aggressive strikes on Iran, sending oil prices sharply up again in a blow to consumers around the world.

Oil prices rose on Thursday on mounting supply tightness concerns amid disruptions to Russian exports, the potential for major producers to cut output, and the partial shutdown of a US refinery.

Oil rose slightly on Tuesday, paring earlier losses and after soaring by more than $5 barrel in the previous session, amid concerns about tight supply.