Oil prices rise for third day in a row as Iran ceasefire talks stall
Oil prices have risen for a third day in a row as hopes for a deal to get ships moving through the Strait of Hormuz cooled.
US President Donald Trump said the month-old ceasefire with Iran was “on life support” after Tehran's response to a US plan to end the war made clear the sides were far apart.
Brent crude futures LCOc1 were up almost four percent on Tuesday to about $108 a barrel.
Stocks have fallen. In Europe, the STOXX 600 .STOXX, which is still only four percent below late February's record high, was down 0.6 percent, while US stock futures for the S&P 500 ESc1 and Nasdaq NQc1 were down 0.4 percent and 0.9 percent, respectively.