London: Brent crude futures rose $3.44, or 3.58 percent, to settle at $99.58 a barrel on the London ICE Futures Exchange. Global oil markets experienced a mixed closing on Tuesday, with Brent crude making significant gains. The increase in Brent crude prices is attributed to heightened geopolitical tensions and concerns over supply disruptions affecting vital maritime routes, especially around the Strait of Hormuz.

According to Emirates News Agency, while Brent crude experienced a notable rise, West Texas Intermediate (WTI) crude for July delivery saw a decline. WTI settled at $93.89 a barrel on the New York Mercantile Exchange, marking a decrease of 2.81 percent compared to the previous Friday's close. The contrasting movements in Brent and WTI underscore the complexities and regional dynamics at play in the global oil markets.