Oil prices rose on Thursday after the US issued new Iran-related sanctions and renewed tensions in the Middle East countered strength in the dollar.
Brent crude futures were up $1.03, or 1.46%, to $71.83 a barrel at 1613 GMT.
The US WTI contract for April, expiring on Thursday, rose $1.07 to $68.23.
The more actively traded WTI May contract rose 99 cents, or 1.48%, to $67.90, having risen more than $1 during the session.
The US on Thursday issued new Iran-related sanctions, targeting entities including for the first time a Chinese "teapot", or independent refinery, and vessels that supplied crude oil to such processing plants.
China is the largest importer of Iranian oil. "Teapot" refiners are private Chinese refineries that are the primary purchasers of Iranian oil.
Iran produces more than 3 million barrels per day of crude oil.
Elsewhere, OPEC+ on Thursday issued a new schedule for seven-member nations including Russia, Kazakhstan and Iraq to make further oil output cuts to compensate for pumping above agreed levels.
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