New Delhi, May 21 -- Global oil prices rose marginally on Thursday morning as traders awaited clarity on a possible peace deal between Iran and the US.

Prices edged higher after falling around 6% in the previous session as US President Donald Trump said negotiations with Iran were in the final stages.

At 8:16 am, the July contract of Brent crude on the Intercontinental Exchange was trading at $105.48 per barrel, up 0.44% from its previous close. Meanwhile, the June contract of West Texas Intermediate on the NYMEX rose 0.55% to $98.80 a barrel.

Trump told reporters on Wednesday that he is in "no hurry" for a deal with Iran and is going "to give this one shot".

On the other hand, Iran has indicated readiness for diplomatic engagement to...