Oil jumps over 1% as US-Iran talks stall, Hormuz blockade deepens crisis
International oil prices rose over 1% on Monday morning amid a stalemate in US-Iran peace talks, intensifying concerns over supply disruptions through the Strait of Hormuz.
At 7:25 am, the June contract of Brent on the Intercontinental Exchange was trading at $107 per barrel, up 1.55% from its previous close. The May contract of West Texas Intermediate on the NYMEX rose 1.51% to $95.83 per barrel.
