BBC News Oil prices volatile as US President Donald Trump talks up Iran negotiations | BBC News

Oil prices are on the rise again, climbing to $106 a barrel and stock markets remain volatile following contradictory messaging from the US and Iran about efforts to end the conflict.  

On Wednesday, benchmark Brent crude sank below $100 dollars a barrel for the first time in almost two weeks – after claims by US President Trump that talks are under way – and reports that Washington has sent a ceasefire proposal to Iran.

However, Iran’s foreign minister has said otherwise – appearing on state TV on Wednesday evening to say there have been no talks – and they have no intention of negotiating.  

Abbas Araghchi also reiterated Iran’s authority over the Strait of Hormuz – but said it was only closed to the country’s enemies and their allies.

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