Oil prices continue to rise as Iran has indicated it intends to press ahead with its nuclear energy programme.
The UN has demanded Tehran stop enriching uranium and could impose sanctions which might disrupt supplies.
Iran is the world’s fourth-largest producer pumping more than two million barrels a day.
According to an Iranian state-run news agency, the country’s supreme leader, Ayatollah Ali Khamenei, has ruled out suspending the nuclear programme.
He spoke ahead of a formal statement from Iran’s president.
Oil traders are also concerned about the truce between Israel and Hizbollah, which they fear could collapse, with the fighting spreading to other oil producing countries in the Middle East.