Oil prices edged higher on Monday (May 4), supported by the absence of a US-Iran peace deal that kept supplies constrained and prices above $100 a barrel.
Brent crude futures were up 67 cents, or 0.6 per cent, to $108.84 (S$138.71) a barrel at 0400 GMT (12pm Singapore time) after settling down $2.23 on Friday. US West Texas Intermediate was up 65 cents, also 0.6 per cent, at $102.59 a barrel, after a $3.13 loss on Friday.
President Donald Trump said the US would begin efforts to assist ships stranded in the Strait of Hormuz, but prices stayed above $100 a barrel, with no peace deal in sight and shipping through the strategic waterway still constrained.
Negotiations between the US and Iran continued over the weekend, with both sides assessing each other's responses.
Trump has made securing a nuclear deal with Tehran a priority, but Iran wants to defer nuclear talks until after the war and first lift rival blockades on Gulf shipping.
