Oil rises on concerns over Strait of Hormuz reopening plans

Brent crude futures rose 99 cents, or 1.2%, to $83.48 a barrel by 0010 GMT. U.S. West Texas Intermediate futures rose 85 cents, or 1.1%, to $78.84.

Oil futures settled up at over $3 a barrel on Thursday as Iran reviewed a bill to ban U.S. and Israeli vessels from the Strait of Hormuz where roughly a fifth of the world's oil and liquefied natural gas transmitted before the war began at the end of February.

Prices fell earlier in the week as a possible solution to the ongoing conflict looked more likely but benchmark Brent breached $80 on Thursday after falling below that for the first time since July 13.

"Markets have already seen at least one short-lived arrangement earlier this year, so confidence that a new pact would fully restore normal tanker movements remains low," said Tim Waterer, chief market analyst at KCM Trade, noting skepticism had put a floor under prices.

Meanwhile, Yemen's Houthis said they carried out missile and drone attacks on "Saudi deployments" in Marib and Hadramout in Yemen on Thursday.

U.S. President Donald Trump on Thursday told reporters that he believed the war would be over soon.

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