Oil above $100 over conflicting claims on US-Iran talks

The price of Brent crude oil rose back above $100 a barrel as the direction of the US-Israel war in Iran remained unclear. On Tuesday, US President Donald Trump continued to float the possibility of a quick end to the conflict, describing Iran as "totally defeated" and Washington was negotiating with Iranian leaders who were "talking sense". But Tehran has previously rejected claims that it had been in contact with the US, calling them an attempt to manipulate energy prices and stock markets. The war has sparked a global energy crisis and the boss of oil giant Shell warned that oil shortages could hit Europe next month. Global energy markets have seen volatile trading since the US and Israel attacked Iran on 28 February. Oil and gas prices have soared, as Iran responded by effectively blocking the Strait of Hormuz, a narrow waterway which typically sees about 20% of the world's oil and liquefied natural gas pass through each day. Wael Sawan, chief executive of Shell, told an energy industry conference in Houston: "South Asia was first to get that brunt. That's moved to south east Asia, north east Asia and then more so into Europe as we get into April." A spokesperson for the UK's D