Oil prices surge amid mixed signals on US-Iran peace talks

Oil prices have risen sharply following attacks on commercial vessels in the Strait of Hormuz and conflicting messages about the prospect of renewed negotiations between the United States and Iran. Brent crude futures jumped more than 7 percent in Asia, with prices easing somewhat later in the morning. The price surge came after US forces seized an Iranian-flagged cargo vessel and reports of attacks on vessels in the strait.