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Brent crude rose above $94 a barrel on Thursday as deadlocked peace talks and the UAE's suspension of trade with Iran kept supply under pressure
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Oil prices on Thursday pushed to their highest point in three weeks, with the continuing deadlock in the U.S.-Iran war and the United Arab Emirates' move to sever all financial and economic ties with Iran squeezing supply.
October Brent crude futures added $2.44, or 2.7%, settling at $94.06 a barrel, while West Texas Intermediate's more active October contract climbed $2.41, or 2.9%, to $86.80 a barrel. Both benchmarks recorded a fifth consecutive session of gains and reached their highest levels since July 24.
