Oil steadied after a three-day rally as President Donald Trump said renewed attacks on Iran would be short-lived while reiterating his claim that the US controls the Strait of Hormuz.
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Oil steadied near the highest closing level in five weeks as fighting again raged between the US and Iran, renewing the threat to energy exports from the Middle East.
US oil prices topped $90 a barrel and European gas prices surged to a three year high, as fresh American strikes on Iran raised concerns about prolonged disruptions to energy flows through the Strait of Hormuz.