Oil prices ticked up on Tuesday, extending weekly gains, after President Donald Trump said no talks were ongoing with Iran a day after an interim peace agreement between the two sides expired. Supply disruption fears remained elevated after the United Arab Emirates said it had detected two Iranian missiles targeting maritime navigation.

At 16:45 ET (20:45 GMT), Brent crude futures expiring in October, the global oil benchmark, rose 0.4% to $91.27 a barrel, after earlier hitting $92 a barrel. U.S. West Texas Intermediate crude futures expiring in October climbed 0.8% to $84.39, after earlier touching $85.01 a barrel. Both contracts are already up more than 2% for the week.

Gold prices fell on Tuesday as a rout in U.S. Treasury bonds and rising oil prices weighed on bullion. Precious metal market participants were also looking ahead to the minutes of the Federal Reserve’s July meeting for more cues on monetary policy outlook. 

At 15:47 ET (19:47 GMT), spot gold shed 1.5% to $4,351.23/oz, while gold futures slipped 1.6% to $4,404.57/oz. The yellow metal had rallied over the last two weeks, helped in part by weak U.S. economic data on the labor market and inflation that reduced Fed rate hike expectations. 

NEW YORK, Aug 18 (Reuters) - Oil prices settled at their highest level in more than three weeks on Tuesday after Iran said it would adopt a more offensive stance and the Strait of Hormuz would remain closed, while the United States ruled out extending a ceasefire.

Gains were limited, however, with Brent crude futures finishing up 15 cents, or 0.17%, at $91.02 a barrel, while U.S. West Texas Intermediate crude futures closed up 44 cents, or 0.52%, at $84.94 a barrel. Both contracts closed at their highest since July 24.

The U.S. dollar was flat on Tuesday, as dovish Federal Reserve rate expectations and a let up in a steep bond sell-off was countered by an ongoing impasse between Washington and Tehran in the Middle East.

At 15:10 ET (19:10 GMT), the U.S. dollar index, which tracks the greenback against a basket of six major peers, was just above the flatline at 99.66. The gauge slipped to an over two-month low of 99.29 in the previous session.