Oil prices rise amid the faltering conclusion of an agreement between America and Iran

Oil prices rose today, amid the faltering conclusion of an agreement between the United States and Iran, which kept supplies limited and prices above $100 per barrel.

Brent crude futures rose 67 cents, or 0.6 percent, to $108.84 per barrel by 04:00 GMT, after falling $2.23 upon settlement on Friday.

US West Texas Intermediate crude rose 65 cents, or 0.6 percent, to $102.59 a barrel, after falling $3.13 on Friday.

“The broader market continues to benefit strongly from ongoing supply disruptions and geopolitical uncertainty,” Philip Nova analyst Priyanka Sachdeva said.

She added, “Unless there is a clear and sustainable solution that restores normal flows through the Strait of Hormuz, oil prices are likely to remain high, with continued exposure to further rise.”