Oil advances with uncertainty over peace talks between US and Iran

Oil prices rose again this Friday (22), after falling for three consecutive days, amid heightened tensions in the Middle East, which could keep the risk of interruptions in the supply of the commodity high.

At around 12:20 p.m., WTI oil, a reference in the American market, rose 1.43%, to US$97 per barrel.

At the same time, Brent rose 1.49%, to US$ 104 a barrel.

The rise in oil reflects investor skepticism about progress in peace talks between the United States and Iran, with Washington and Tehran still at odds over Iranian uranium and controls in the Strait of Hormuz.

US Secretary of State Marco Rubio said the US has seen some progress in negotiations with Iran and is in constant communication with Pakistani mediators, but there is more work to be done.

Oil closed lower on Thursday (21) after reports that the countries reached a preliminary version of an agreement brokered by Pakistan. Iran, however, denied rumors about progress in negotiations with the US.

*With information from Reuters and Broadcast

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Source: CNN