US-Iran Talks Stalemate Drives Oil Prices Higher

Oil prices have increased due to concerns over the US's progress in negotiations with Iran. The US has been trying to re-impose sanctions on Iran, which could disrupt global oil supplies and lead to higher prices.

The price of crude oil rose by 1% overnight after reports emerged that the US is struggling to make headway in talks with Iran.

Analysts say that the uncertainty surrounding the negotiations has led to increased volatility in the market, causing prices to rise.