Oil prices continued to climb on Wednesday, rising about 14% in a week as the Strait of Hormuz remains effectively shut and US-Iran talks show little sign of progress.

Crude gains as traders watch for progress in US-Iran talks that could pave the way for a deal to secure passage through the Strait of Hormuz.

Oil prices rose during trading on Monday, August 10, driven by ongoing uncertainty surrounding the reopening of the Strait of Hormuz.Re ...