Oil Prices Rise as US-Iran Talks Remain Deadlocked

Oil prices continued their upward trend on Thursday after rising 4% in the previous session due to a lack of progress in US-Iran talks.

The price of Brent crude futures rose by 43 cents, or 0.4%, to $103.51 per barrel at 0630 GMT, while West Texas Intermediate (WTI) futures climbed by 35 cents, or 0.4%, to $92.51 per barrel.

Initially, oil prices fell in Asian morning trade on Thursday but later rebounded as investors struggled to find a clear direction amidst the ongoing geopolitical deadlock between Iran and the US.