Dhaka, April 23 -- Oil prices rose on Wednesday, extending the prior day's gains, as investors weighed a fresh round of US sanctions on Iran, a drop in US crude stocks and a softer tone from President Donald Trump toward the Federal Reserve.

Brent crude futures climbed 55 cents, or 0.8 per cent, to $67.99 a barrel at 0400 GMT, while US West Texas Intermediate crude was up 54 cents, or 0.9 per cent, at $64.21 a barrel.

The US issued new sanctions targeting Iranian liquefied petroleum gas and crude oil shipping magnate Seyed Asadoollah Emamjomeh and his corporate network on Tuesday.

Emamjomeh's network is responsible for shipping hundreds of millions of dollars' worth of Iranian LPG and crude oil to foreign markets, the US Treasury said ...