Oil hits a three-week high as peace talks between the US and Iran stall

By DAILY MAIL CITY & FINANCE REPORTER 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 Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence. The comments below have not been moderated. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. By posting your comment you agree to our house rules. Do you want to automatically post your MailOnline comments to your Facebook Timeline? Your comment will be posted to MailOnline as usual. Do you want to automatically post your MailOnline comments to your Facebook Timeline? Your comment will be posted to MailOnline as usual We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook. You can choose on each post whether you would like it to be posted to Facebook. Your details from Facebook will be used to provide you with tailored content, marketing and ads in line with our Privacy Policy. MIDAS SHARE TIPS MIDAS SHARE TIPS: The giant stocks most in danger if the AI tech bubble suddenly bursts... and which are still worth clinging on to MIDAS SHARE TIPS: How to build long-term profits by investing in family-run firms MIDAS SHARE TIPS: Three rejuvenated stocks to put in your trench coat pocket MIDAS SHARE TIPS: Retail giants that could give YOU a Christmas bonus MIDAS SHARE TIPS: Take a bite out of these three firms floating shares on stock market MIDAS SHARE TIPS: Three stocks to help you survive a financial crash MIDAS SHARE TIPS: How to profit from the growing British businesses that will put patriotic pride in your investment portfolio MIDAS SHARE TIPS: How YOU can profit from Trump and Starmer's 'golden age' of nuclear power MIDAS SHARE TIPS: Four crash-proof stocks to survive economic disaster         DM.later('bundle', function(){ DM.has("p-1066", "pictureSwap"); }); FUND AND TRUST IDEAS ECOFIN GLOBAL UTILITIES AND INFRASTRUCTURE: A fund to tap into surging electricity prices WS GUINNESS GLOBAL ENERGY: Rising oil price lifts returns for investors FIDELITY SPECIAL VALUES: Manager seeks to protect income flow in troubled times MURRAY INCOME TRUST: New managers stick with winning formula FORESIGHT ENVIRONMENTAL INFRASTRUCTURE: A fund built to withstand weather risks CAPITAL GEARING: An investment trust that's built to protect investors against rising inflation MURRAY INTERNATIONAL: The trust that has delivered on dividends for 21 years...and counting JUPITER UK DYNAMIC EQUITY: The fund that transforms companies... and then waits for their shares to rise BLACKROCK ENERGY AND RESOURCES INCOME: The trust primed to profit from the future of energy and mining ROCKWOOD STRATEGIC: Raking in big returns from Britain's unloved small firms         DM.later('bundle', function(){ DM.has("p-1087", "pictureSwap"); }); Latest from Business Shell snaps up Canadian rival in £12bn deal as it ramps up investment in fossil fuels: Biggest takeover by energy giant in 11 years UK planning system 'in the slow lane', warns Lidl boss as German grocer plots hundreds of new stores Word in your Shell-like, Ed: Labour must stop dithering over North Sea oil, says RUTH SUNDERLAND Oil hits a three-week high as peace talks between the US and Iran stall London trust to raise £350million to plough into booming space industry Claire's closes 154 stores with loss of 1,300 jobs in latest High Street collapse Chemicals boss fumes over green taxes 'that destroy industrial base' Adidas shares rise after 'super shoe' helps Kenyan break two-hour barrier in London Marathon sensation 'A major tax on ambition': Reeves blasted over 'growth killer' business rates as botched reforms hit jobs and investment RUTH SUNDERLAND: Trusts must not surrender to cynical Saba MORE HEADLINES