Backed by the escalating risks associated with fragility of talks between the United States and Iran, the prices du Oil rose on Wednesday.

The price of Brent crude oil was up by 55% cents, or 0.80%, to $69.35 per barrel at 03:56 GMT.

The price of West Texas Intermediate Crude Oil American rose by 57 cents, or 0.89%, to $64.53.

“Oil maintains a bullish orientation despite the extreme risks associated with the talks between the United States and Iran, which are continuing but remain fragile, which supports the bounty of risk of the Strait of Hormuz in a context of continued pressures from sanctions, tariff threats linked to Iranian trade and strengthening of the regional military posture of the United States,” wrote the analysts of LSEG in a report.

Crude oil stocks U.S. prices rose by 13.4 million barrels during the week ending on February 6, market sources said, citing Tuesday figures from the American Petroleum Institute.