Oil Prices Climb on Stalled US-Iran Negotiations

Oil prices continued their upward trend on Monday as diplomatic efforts to end the conflict in the Middle East stalled, but major supply disruptions remained limited.

Brent crude futures rose by 52 cents or 0.6% to $89.04 a barrel, reaching an intraday high of $89.68 at 12:33 GMT.

US West Texas Intermediate (WTI) crude futures gained 19 cents or 0.2% to $82.59 a barrel, following last week's 5% surge in response to attacks on tankers and an oil refinery.