Charles Oliveira has claimed the lightweight belt after knocking out Michael Chandler at a fast-paced UFC 262 in Houston, Texas.

Both fighters had chances to win the 155-pound belt, which became available following Khabib Nurmagomedov's retirement, in the first round before Oliveira's left hook connected with Chandler's chin early in the second and knocked the American down.

Chandler scrambled back up but could not withstand the following barrage of head shots from Oliveira, who knocked his opponent into the cage before finishing him on the ground.

In the co-main event, Tony Ferguson was taken down three times in three rounds before Beneil Dariush was awarded victory in the lightweight fight by unanimous decision.

On the undercard, Rogerio Bontorin defeated Matt Schnell in the catchweight bout by unanimous decision, the judges also unanimously ruled in favour of former title challenger Katlyn Chookagian against flyweight contender Viviane Araujo, and featherweight Edson Barboza beat Shane Burgos with a delayed knock-out in round three.