Oil climbs as fading US-Iran peace hopes raise supply risks

Oil prices rose on Tuesday as prospects receded for a deal to end the Middle East war, with Iran saying it would adopt a more offensive stance and the United States ruling out extension of a ceasefire deal, heightening worries about energy supply. Iran will shift to a “fully offensive”military postureas efforts have stalled towards a permanent end to the war, a senior Iranian official told Reuters on Monday, as Washington ruled out extending their temporary ceasefire pact. Brent crude futures climbed 62 cents, or 0.7%, to $91.49 a barrel by 0408 GMT, after rising on Monday to their highest since July 30.