Al Jazeera
Oil prices have surged 5 percent amid 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.
The price of oil for the main US oil contracts, West Texas intermediate, also advanced 4.9 percent to $94.71.
The price of the international benchmark, Brent North Sea crude, jumped by 5.2 percent to $107.54 per barrel.
The price of oil for the main US oil contracts, West Texas intermediate, also advanced 4.9 percent to $94.71.
