Oil Rallies on Mixed Signals Over Ceasefire Talks With Iran

Oil jumped on Thursday as mixed messages from US President Donald Trump failed to convince traders that the prospect of talks with Iran will quickly bring an end to the war in the Middle East.

Brent rose 5.7% to close just over $108 a barrel after Trump said he doesn’t know if the US is “willing” to work with Iran on a deal. The month-long conflict has roiled global energy markets, hitting Asia especially hard, and threatening to spike inflation worldwide. WTI, the benchmark for US crude, climbed 4.6%.