Sri Lanka, April 28 -- The global oil price climbed above $110 a barrel for the first time in three weeks today, as traders worry that the United States and Iran are no closer to a deal to end the war and fully reopen the vital Strait of Hormuz.

Brent crude, the global oil benchmark, was up 2.7% to $111.2 a barrel in early morning trade. WTI, the US benchmark, was trading 2.3% higher at $98.5 a barrel.

US US President Donald Trump signalled Monday that he was unlikely to accept Iran's latest proposal to end the conflict, two people familiar with matter told CNN. Tehran proposed a plan that would reopen the Strait of Hormuz while leaving questions about its nuclear program for later negotiations.

"The stalemate and the closure of the St...