New Delhi, March 24 -- International oil prices traded around 4% higher on Tuesday morning after a fall in the previous session, as Iran denied talks with the US government to end the ongoing war in West Asia.

At 8:05 AM, the May contract of Brent crude on the Intercontinental Exchange was trading at $103.98 per barrel, higher by 4.04% from its previous close. Similarly, the May contract of West Texas Intermediate rose 3.87% to $91.42 a barrel.

US President Donald Trump on Monday announced a five-day halt in strikes on Iranian power and energy infrastructure due to ongoing "in depth" and "progressive" talks with Iran, which he said would continue during the week-triggering a roughly 7% fall in oil prices earlier.

However, Tehran denied...