Oil prices rose on monday as talks between the united states and iran stalled and tanker traffic through the strait of hormuz slowed:29 GMT. U.S. West Texas Intermediate crude futures rose 44 cents to $82.83 a barrel.

According to National Iraqi News Agency, both contracts had risen more than 5% last week following attacks on tankers operated by Abu Dhabi National Oil Company in the Strait of Hormuz and a refinery belonging to Saudi Aramco. Earlier in the week, Iranian Foreign Minister Abbas Araqchi said Tehran had not yet decided to resume talks with the United States, while U.S. President Donald Trump urged Americans to accept a slight increase in gasoline prices as long as the conflict continues.