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International oil prices have increased after concerns over Iran’s possible move to close the Strait of Hormuz. Reduced shipping activity and slow progress in US-Iran talks pushed prices higher.
West Texas Intermediate crude oil prices rose 3.02 percent, reaching a high of 78.14 US dollars per barrel.
Brent crude prices increased 2.15 percent to 82.30 dollars per barrel.
Energy analysts say the Strait of Hormuz remains a key strategic tool for Iran.
Meanwhile, US and Iranian officials held their first meeting under a proposed peace deal, but both sides accused each other of violating the agreement.