Oil prices rose on Monday, boosted by strong summer demand and a pause in talks to revive the nuclear deal, which could predict a delay in the resumption of supplies to OPEC member Iran.“.
By 06:22 GMT, Brent crude rose 0.3 percent to $73.74 a barrel. And US crude, “West Texas Intermediate”, increased by 0.3%, and rose to $71.94 a barrel.
The two levels rose over the past four weeks, amid optimism about the pace of global vaccination and an improvement in summer flight traffic.
On the other hand, negotiations to revive the Iran nuclear deal were suspended on Sunday after Judge Ibrahim Raisi won the presidential elections there. Two diplomats said they expected a layover of about 10 days.