Oil price extends its rise to almost 3% and is once again trading above 100 dollars a barrel

TL;DR

Brent crude for July delivery rose nearly 3% to over $107 a barrel.
US-Iran peace negotiations remain stalled.
The Strait of Hormuz remains blocked.
US President Trump described Iran's peace proposal response as 'unacceptable'.
Trump also warned that the ceasefire with Iran, in place since April 8, is 'incredibly fragile'.
West Texas Intermediate (WTI) crude also increased by 2.93% to $100.94 a barrel.

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