New Delhi, March 26 -- Global crude oil prices rose over 1% on Thursday as conflicting signals from the US and Iran on potential ceasefire talks kept markets on edge amid the ongoing West Asia war.

At 9.09 AM, the May contract of Brent on the Intercontinental Exchange was trading at $103.93, higher by 1.67% from its previous close. Similarly, the May contract of West Texas Intermediate on the Nymex rose 1.59% to $91.76 a barrel.

The uptick follows US President Donald Trump's claim that talks with Iran were underway, which was dismissed by Tehran. Iran's military accused Washington of negotiating with itself to mask battlefield setbacks.

"Has the level of your inner ⁠struggle reached the stage ⁠of you negotiating with yourse...