Global crude oil prices climbed around 3 per cent on Tuesday, touching their highest levels in four weeks, after the United States reinstated its naval blockade of Iran and fresh military exchanges around the Strait of Hormuz heightened fears of disruptions to global crude supplies. 

International benchmark Brent crude surged as much as 2.82 per cent or $2.35 to trade above $85 per barrel, while US West Texas Intermediate (WTI) crude rose nearly 3 per cent or $2.28 to $80.42 per barrel.