Oil prices are holding above $90 a barrel as talks between Iran and the United States remain deadlocked. Brent is now trading at its highest level in nearly a month as traders assess a prolonged disruption to oil flows through the Strait of Hormuz.
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Iranian Parliament Speaker Mohammad Bagher Ghalibaf said on Tuesday that the Strait of Hormuz would remain closed until the US fulfills the conditions of the Memorandum of Understanding agreed upon in June.
Media reports say the conditions include lifting the blockade of Iranian ports, removing oil sanctions and unfreezing Iranian assets. Meanwhile, US President Donald Trump said there have been no talks with Tehran and none are planned.
