Oil prices rise amid uncertainty over US-Iran talks

Oil prices rose on Sunday as traders assessed the implications of ongoing US-Iran negotiations and the durability of the ceasefire between the two countries.

According to Reuters, Brent crude futures climbed by $1.09, or 1.35 percent, to $81.66 a barrel by 22:06 GMT, after reaching an early session high of $82.30.

The increase came amid continued uncertainty over future oil supplies and the outcome of diplomatic talks.

Oil prices had fallen last week after several tankers successfully transited the Strait of Hormuz, easing concerns about disruptions to one of the world's most important energy shipping routes.

However, market participants remain cautious as negotiations continue and questions remain over the long-term stability of the agreement.