Oil rises as US-Iran peace hopes fade

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Oil prices are slightly higher for a third straight session, as prospects for a US-Iranian peace deal dim after Tehran said it would adopt a more offensive stance and Washington ruled out extending a ceasefire deal, Reuters reports.

Brent crude futures were up 36 cents, or 0.4 per cent, at $91.23 a barrel at 1503 GMT (8:03pm PKT). US West Texas Intermediate crude futures are up 56 cents, or 0.66pc, at $85.06 a barrel.

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