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Asharq Al-Awsat

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Asharq Al-Awsat

Oil Climbs on Supply Concerns as Iran Talks Stall

Iran Joe Biden Russia Germany Goldman Sachs IEA Texas

Oil pump jacks work at sunset near Midland, Texas, US, August 21, 2019. REUTERS/Jessica Lutz/File Photo

Oil prices gained about $1 on Monday as worries over tight supplies persisted after Germany warned of more sanctions on Russia and talks to revive the Iran nuclear deal paused.

Brent crude futures were up 94 cents, or 0.9%, at $105.33 a barrel by 0728 GMT while US West Texas Intermediate crude was up 92 cents, or 0.9%. at $100.19.

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