By: Economy Middle east

Oil prices rose 1 percent on Tuesday, extending gains from the previous session as efforts to end the U.S.-Iran war appeared stalled and the Strait of Hormuz remained mainly shut, keeping energy supplies from the Middle East out of reach for global buyers.

U.S. President Donald Trump is unhappy with Iran’s latest proposal to end the war, a U.S. official said on Monday. Iranian sources said the proposal did not address the nuclear issue until hostilities end and shipping disputes in the Gulf are resolved, leaving the conflict deadlocked.

Brent crude futures for June rose 95 cents, or 0.93 percent, to $102.64 a barrel at 8:30 UAE time, after climbing 2.8 percent in the previous session to their highest close since April 7. The contract is now up for a seventh straight day.

U.S. West Texas Intermediate crude for June gained $1.02, or 1.06 percent, to $97.39 a barrel, after rising 2.1 percent in the previous session.

A previous round of talks between the U.S. and Iran collapsed last week after failed face-to-face negotiations. Ship-tracking data showed six Iranian oil tankers were forced to turn back because of the U.S. blockade, while a liquefied natural gas tanker managed by Abu Dhabi National Oil Company crossed the Strait of Hormuz and appeared to be near India on Monday.

Before the U.S.-Israeli war on Iran began on February 28, between 125 and 140 vessels passed through the strait each day. The market is also waiting for private and government U.S. inventory data later this week.