London, April 28 (QNA) - Oil prices rose nearly 3 percent on Monday to settle at their highest level in two weeks, as stalled peace talks between the United States and Iran and continued shipping disruptions in the Strait of Hormuz tightened global supplies.

Brent crude futures, the international benchmark, rose $2.90, or 2.8 percent, to settle at $108.23 a barrel. The American benchmark, West Texas Intermediate (WTI), gained $1.97, or 2.1 percent, to finish at $96.37.

The gain marked the sixth consecutive day of increases for Brent, its longest winning streak since March 2025. It was the highest closing price for the benchmark since April 7. WTI reached its highest settlement since April 13.

At least seven vessels—primarily dry bulk carriers—transited the Strait of Hormuz in the last 24 hours, a figure far below the historical average of 140 ships per day recorded before the onset of the US-Israel war on Iran on Feb. 28. Before the war, the strait served as the transit point for approximately 20 percent of the world's oil supply. (QNA)