Oil prices rose on Monday as doubt grew that the U.S. and Iran will reach a deal to increase ship traffic through the Strait of Hormuz.

U.S. West Texas Intermediate futures rose 2.9% to $80.42 per barrel by 10:25 a.m. ET.

President Donald Trump told Axios on Sunday that the U.S. is “only semi-negotiating” with Iran, after he insisted last week that Washington and Tehran were in fact holding talks. Trump indicated that he would rely on the U.S. naval blockade to pressure Tehran rather than another wave of airstrikes.

Read more: http://cnb.cx/4g25iXT

Oil prices rose on Monday as doubt grew that the U.S. and Iran will reach a deal to increase ship traffic through the Strait of Hormuz.

U.S. West Texas Intermediate futures rose 2.9% to $80.42 per barrel by 10:25 a.m. ET.

President Donald Trump told Axios on Sunday that the U.S. is “only semi-negotiating” with Iran, after he insisted last week that Washington and Tehran were in fact holding talks. Trump indicated that he would rely on the U.S. naval blockade to pressure Tehran rather than another wave of airstrikes.

Read more: http://cnb.cx/4g25iXT

Source:https://twitter.com/cnbc/status/2086836220781281616