Oil prices climbed on Tuesday, driven by continued disruptions to shipping through the Strait of Hormuz and growing market anxieties over potential energy supply shortfalls.

At the close of trading, light sweet crude for October delivery on the New York Mercantile Exchange settled at $83.53 per barrel, marking a 1.58% increase. Meanwhile, Brent crude for October delivery on the London market finished at $89.70 per barrel, up 2.12%.

In the precious metals sector, both gold and silver advanced on the same day, supported by a weakening US dollar index.

Gold futures for December delivery on the COMEX closed at $4664.00 per ounce, adding 0.23%, while silver futures for September delivery settled at $69.431 per ounce, gaining a more substantial 2.07%.