Oil movements through the region have continued despite the conflict, but further attacks on tankers or infrastructure could increase the risk of more significant disruptions
The latest increase followed fresh military action involving the US and Iran as well as attacks by Iran-backed Houthis on Saudi Arabia, adding to uncertainty over energy supplies from the region
Brent crude futures fell 0.7 per cent to $87.24 a barrel in early trade, marking a fourth consecutive session of losses
Crude prices have risen more than 50 per cent this year as the six-month conflict between the US and Iran has disrupted shipments of crude oil and refined petroleum products from the Middle East
