Oil prices are rising amid growing concerns over supply disruptions in the Middle East.

Concerns about disruption in the supply from the Middle East have intensified, leading to an increase in oil prices in early Asian trading. Nearby West Texas Intermediate crude futures rose 0.4% to $84.68 a barrel. Analysts from ANZ Bank's research department stated in a research report: "A Kuwaiti oil tanker was attacked by unidentified projectiles in the Strait of Hormuz in northeastern Oman." The analysts from ANZ Bank's research department said: "In the days prior, vessels owned by Dynacom Tankers Management were also attacked." They noted that the Strait of Hormuz was "devoid of ships, with no observed traffic passing through the waterway on Tuesday." Analysts from ANZ Bank's research department added that prospects for a ceasefire agreement between the US and Iran have dimmed.