Brent crude rises 3 percent despite Iran’s offer to reopen waterway in exchange for deferral of nuclear talks.
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Oil prices are continuing to climb despite Iran’s proposal to end its blockade of the Strait of Hormuz in exchange for deferring nuclear negotiations with the United States.
Brent crude, the international benchmark, rose 3 percent on Tuesday as Tehran’s offer failed to assuage traders’ concerns about the blockade of the waterway critical for global fuel supplies.
