Oil prices have increased due to uncertainty surrounding a potential deal between the US and Iran. This development has also led to a decline in global shares. The situation is being closely watched by traders, particularly with regards to the reopening of the Strait of Hormuz.

Further details on the talks and their impact on the market are available from Reuters. The news agency has reported on the situation, citing developments on Tuesday.

For more information on the current state of oil prices and global shares, readers can refer to the original report by Chris Prentice and Amanda Cooper.