Reports that peace talks are underway between representatives of the United States and Iran, despite the flare-up of fighting around the Persian Gulf in recent days, are easing concerns somewhat.
However, since the Iranian shelling of civilian cargo ships in the Strait of Hormuz on Tuesday - which was the starting point for this week's fighting - the price of oil has risen by around 6 percent.
"Technical talks" are underway, according to US government sources, and the Trump administration wants to find a way to end the war with Iran, they claim.
Earlier this week, President Donald Trump, after reimposing oil sanctions on Iran, said that the ceasefire from June had been broken.
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