Oil prices are on the rise as oil prices, as talks between the US and Iran to de-escalate tensions remain at an impasse, keeping a climate of uncertainty in global energy markets.
Brent futures for June delivery were up 45 cents, or 0.4%, at $108.68 per barrel.
Correspondingly, US crude West Texas Intermediate (WTI) for delivery in the same month rose 58 cents, or 0.6%, to $96.96 per barrel.
The development was attributed to the stagnation of diplomatic contacts between Washington and Tehran, which has heightened concerns about the path of global oil supply.
.
