US oil prices rise as investors doubt breakthrough in US-Iran peace talks

TOKYO, May 22 (Reuters) - ​U.S. crude ⁠futures rose more than $1 ​in early trade on Friday as ​investors ‌doubted the prospects of a breakthrough in ⁠U.S.-Iran peace talks, with ⁠the two countries stuck ​in opposing stances over Tehran's uranium stockpile and controls on the Strait ​of ‌Hormuz.

A senior Iranian source told Reuters no deal has been reached with the U.S. but the ​gaps have been narrowed, while U.S. Secretary ‌of State Marco Rubio said there had been "some good signs" ‌in talks but any toll system in the strait would be unacceptable.

U.S. ​West Texas Intermediate (WTI) crude futures climbed as high ‌as $98.00 a barrel and last traded up $1.20, or 1.3%, at $97.55 as of 2228 ⁠GMT. ⁠They fell about 2% ‌on Thursday, closing at their lowest in nearly ​two ​weeks.

The benchmark was still ‌headed for a weekly loss of over 7%. (Reporting by Yuka Obayashi; Editing by Nia Williams)