Oil traded near its highest in three-and-a-half years on Thursday, boosted by potential disruptions to flows from Iran and the Middle East despite a fresh demand from US President Donald Trump that Opec cut prices.

Brent crude futures were at $78.12 a barrel at 10:50am GMT, down 12 cents.

US crude futures were up 32 cents at $74.46, within sight of Tuesday's three-and-a-half-year high above $75.