Oil rises as Iran-U.S. deadlocked peace talks fan fears of extended supply disruption

The Callisto tanker sits anchored in Port Sultan Qaboos as the traffic is down in the Strait of Hormuz, amid the U.S.-Israeli conflict with Iran, in Muscat, Oman, March 12, 2026. Benoit Tessier | Reuters Oil prices rose Monday as the deadlock in Iran-U.S. peace talks fans fears of an extended supply crunch, while experts point to record low inventories. International benchmark Brent crude futures for July rose 1.73% to $110.93 a barrel. U.S. …