SINGAPORE, May 11 (Reuters) – Oil prices jumped $3 a barrel on Monday as the United States and Iran failed to agree to a peace proposal drafted by Washington while the Strait of Hormuz remained largely closed, keeping global energy supply tight.
Brent crude futures climbed $3.21 or 3.17% to $104.50 a barrel by 2203 GMT and U.S. West Texas Intermediate was at $98.48 a barrel, up $3.06, or 3.21%.
(Reporting by Florence Tan; Editing by Edmund Klamann)
