Oil prices climb 5% as negotiations unfold

Oil prices have risen by 5 percent following reports of backchannel negotiations between the US and Iran.

The price of the international benchmark, Brent North Sea crude, jumped by 5.2 percent to $107.54 per barrel, News.Az reports, citing foreign media.

The price of oil for the main US oil contracts, West Texas intermediate, also advanced 4.9 percent to $94.71.

News.Az 

By Ulviyya Salmanli