Oil Prices Continue To Rise Reaching Near Four-Month High

Oman's government said a meeting that was set for Monday with Iran and other regional countries, to discuss future control over the strait.

Oman and Iran’s planned talks regarding the Strait of Hormuz have been postponed.

Oman’s government said a meeting that was set for Monday with Iran and other regional countries, to discuss future control over the strait. It’s been postponed “in the interests of consensus.”

In addition, the price of Brent crude, the international benchmark for oil, jumped. On Monday, the price per barrel increased to around $108. That’s the highest mark in almost four months. U.S. crude also continued its rise, sitting at over $103.26 per barrel, or over 20% higher than a month ago.