Oil prices rose again on Monday on stalled negotiations between the United States and Iran aimed at bringing the conflict in the Middle East to an end.

Trading in Asia saw both the global proxy benchmark Brent as well as the U.S. benchmark West Texas Intermediate rise by more than 2%. However, early afternoon trading in Europe saw a pullback from early morning price spikes.

At 7:19 a.m. EDT on Monday, the Brent front-month contract was up 1.06%, or $1.01, to $100.18 per barrel, while the WTI traded at $95.16 per barrel, up 1.01% or $0.76.

Over the weekend, attempts to bring the U.S. and Iran to the negotiating table failed again. Iran’s foreign minister Abbas Araghchi, left talks with Pakistan in Islamabad on Saturday, where he said he had put forward his country’s position on a framework to end the war but added that........

© Forbes