The price of oil hit a three-week high as peace talks between the US and Iran stalled and shipments through the Strait of Hormuz remained limited.
Brent crude, which dropped back below $90 a barrel in mid-April on hopes of an end to the conflict in the Middle East, rose as high as $109 yesterday.
Passage through the Strait of Hormuz has been limited to around seven ships a day in recent days.
That represents just a fraction of the average 140 daily passages before the Iran war began at the end of February when around 20 per cent of global oil supplies passed through the Strait.
Fuel fears: Brent crude, which dropped back below $90 a barrel in mid-April on hopes of an end to the conflict in the Middle East, rose as high as $109
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