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The Economic Times
The Economic Times
Business

Oil prices rise as fragile US-Iran talks sustain supply worries

United States Oil Iran Donald Trump OPEC Strait of Hormuz Tehran

May 12: Oil prices rose in early Asian trade on Tuesday as negotiations to end the war between the United States and Iran appeared fragile, with Tehran's response to a U.S. proposal highlighting stark differences that kept supply concerns alive.

Brent crude futures were up 30 ‌cents, or ⁠0.29%, at $104.51 per ⁠barrel, while U.S. West Texas Intermediate gained 31 cents, or 0.32%, to $98.38 by 0002 GMT. Both benchmarks increased nearly 2.8% on Monday.

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