Brent oil price rises to nearly $105 per barrel

Oil continued to rise on fears of a new escalation of conflict in the Middle East due to the lack of progress in negotiations between the US and Iran, Report informs, citing trading data.

July Brent crude futures rose on the London ICE Futures exchange by $0.7 (0.67%) to $104.91 per barrel. June WTI futures rose in electronic trading on the New York Mercantile Exchange NYMEX by $0.88 (0.9%) to $98.95 per barrel.

US President Donald Trump stated that he was not satisfied with the settlement proposals conveyed by Iran, emphasizing that the truce hangs by a thread.

The settlement proposal conveyed by the Iranian side, which did not satisfy the US, implied Tehran's sovereignty over the Strait of Hormuz and the payment of reparations by Washington to Iran.