Oil prices rose by approximately 2% at the settlement of Tuesday's trading, reaching their highest levels in a month, after the United States announced the re-imposition of a naval blockade on Iran.

Market data showed that Brent crude futures rose by $1.43, or 1.7%, to settle at $84.73 per barrel at closing.

In the same context, US West Texas Intermediate crude futures increased by $1.20, or 1.5%, to reach $79.34 per barrel.