Brent crude drops to $109/barrel

Global oil prices have fluctuated ahead of a deadline set by US President Donald Trump for Iran to open the crucial Strait of Hormuz energy shipping route.

The cost of Brent crude, the global benchmark for setting oil prices, rose above $111 a barrel in early trade on Tuesday before dropping to $109.

Oil and gas shipments from the Middle East have been severely disrupted as Tehran threatens to attack vessels trying to use the strait in retaliation for US and Israeli airstrikes since 28 February.