Oil prices jumped and equities struggled on Monday as Middle East peace talks stumbled and tensions mounted between Iran and the United States.Crude futures shot around seven percent higher after an Iranian news agency announced Tehran had suspended the negotiations with Washington via mediators.The United States and Iran had traded strikes over the weekend and Tehran had insisted that any deal to end the war must cover Israel's escalating offensive into Lebanon.

Oil prices jumped and equities struggled on Monday as Middle East peace talks stumbled and tensions mounted between Iran and the United States.Crude futures shot around seven…

Oil prices sharply rose on Monday afternoon as Iran suspended all indirect talks with the US and vowed to fully close the Strait of Hormuz.

The cost of both U.S. and international crude oil returned to levels not seen since mid-May.

A US-Iran diplomatic breakthrough that oil markets assumed was within reach last week now looks less likely amid escalating rhetoric and military actions.

Oil prices surged after US strikes on Iran and stalled diplomacy, fueling fears of escalating Middle East tensions and potential Strait of Hormuz blockade.

Oil Price Jumps 5% to $95 as Iran Suspends Negotiations with US

Oil prices retreated around 4% from Monday’s highs as markets responded positively to US President Donald Trump’s reassuring comments that negotiations with Iran are progressing.

Prices rise for third day as fresh fighting flares up in the Middle East