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International crude oil prices extended gains as US-Iran negotiations stalled and hopes faded for reopening the Strait of Hormuz. Brent topped $107 a barrel, government bond yields hit multi-year highs on inflation and rate-hike fears, Asian stocks fell, and Australia's central bank raised rates to a 15-year high of…
Oil prices remained higher on Tuesday, although they pared earlier gains, as markets continued to assess US-Iran diplomacy alongside signs of recovering crude exports from the Middle East. As of 04:48 ET (08:48 GMT), benchmark Brent crude futures were up 0.
Oil prices rise nearly 3% after talks between the US and Iran stall, while Brent, WTI and the Strait of Hormuz focus attention.