Oil rises above $91 as US-Iran peace talks stall

Crude oil prices rose above $91 a barrel on Tuesday as hopes of a breakthrough in the stalled peace talks between the United States and Iran faded, raising fresh concerns about global oil supplies.
Brent crude, the international benchmark, rose about one per cent to $91.76 a barrel, while US West Texas Intermediate (WTI) crude climbed one per cent to $85.24 a barrel. The increase extended oil’s gains for a third consecutive trading session.
The latest rise followed growing uncertainty over efforts to end the conflict in the Middle East, with Washington ruling out an extension of the temporary ceasefire arrangement and Iran signalling that it could adopt a more aggressive military post...