Oil prices rose in early Asian trade on Friday on the prospect that a stalled Iran nuclear agreement and Moscow’s new mobilization campaign in its invasion of Ukraine would further restrict global supplies.
Brent crude futures gained 16 cents, or 0.2%, to $90.62 per barrel by 0020 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 22 cents to $83.71 per barrel.
Oil edged up after a senior U.S. State Department official said that efforts to revive the 2015 Iran nuclear deal have stalled due to Tehran’s insistence on the closure of the U.N. nuclear watchdog’s investigations.
