Brent Crude Trading Up 6.3 Pct Above US$96 Per Barrel Amid Likely Breakdown In Iran-US Talks

MOSCOW, April 20 (Bernama-Sputnik/RIA Novosti) -- Brent crude prices are surging, nearing US$100 per barrel amid a likely breakdown in talks between Iran and the United States, according to trading data, reported Sputnik/RIA Novosti.

As of 22:15 GMT, the price of Brent crude futures was up 6.3 per cent, exceeding US$96 per barrel.

On Sunday, US President Donald Trump announced that his representatives were heading to Islamabad for talks on Iran. US Ambassador to the UN Mike Waltz claimed that US-Iran talks would resume within the next 24 hours. IRNA later reported that Iran had refused to participate in a second round of talks with the US.

Additionally, on Monday night, the US Central Command (CENTCOM) confirmed the seizure of an Iranian merchant vessel attempting to break the US blockade in the Gulf of Oman.

 European gas prices are rising almost 10 per cent, exceeding US$515 per thousand cubic metres, amid a possible breakdown in US-Iran negotiations, according to data from the London-based ICE exchange.

May futures on the TTF index (Europe's largest hub, located in the Netherlands) were trading at US$518 per thousand cubic metres as of 21:59 GMT, up 9.6 per cent from the previous trading day's settlement price of US$472.7 per thousand cubic metres.

--BERNAMA-SPUTNIK/RIA NOVOSTI