SINGAPORE — Oil prices rebounded more than six per cent on Monday (April 20) after tumbling more than nine per cent on Friday on news the Strait of Hormuz is closed again after both the US and Iran said the other party had violated their ceasefire deal by attacking ships over the weekend.

Brent crude futures jumped US$6.11 (S$7.77), or 6.76 per cent, to US$96.49 a barrel by 11.27pm GMT (Monday, 7.27am SGT) and US West Texas Intermediate was at US$90.38 a barrel, up US$6.53, or 7.79 per cent.