Brent crude rises more than 2 percent after Washington and Tehran fail to hold second round of talks in Pakistan.

President Donald Trump on Saturday cancelled plans to send U.S. envoy Steve Witkoff and Jared Kushner to Islamabad, Pakistan for negotiations with Iran.

Brent crude rises more than 2 percent after Washington and Tehran fail to hold second round of talks in Pakistan.

Brent crude rises 3 percent despite Iran's offer to reopen waterway in exchange for deferral of nuclear talks.

Oil extended gains Thursday on signs of a prolonged U.S. blockade of Iranian exports and stalled nuclear negotiations.