LONDON (WAM)
Oil prices climbed about 3% to a two-week high on Monday as peace talks between the United States (US) and Iran stalled and shipments through the Strait of Hormuz remained limited, keeping global oil supplies tight.
Brent futures rose $2.90, or 2.8%, to $108.23 a barrel, while US West Texas Intermediate (WTI) crude rose $1.97, or 2.1%, to $96.37.
That put Brent up for a sixth day in a row for the first time since March 2025 and on track for its highest close since April 7.