India, Oct. 21 -- Oil prices were moving higher on Wednesday as investors weighed conflicting signals on efforts to end the U.S.-Iran war.
Brent crude prices rose 1.1 percent to $110 a barrel after witnessing sharp swings in the previous session. WTI crude futures surged 1.2 percent to $99 a barrel.
Traders continued to assess Middle East developments after reports emerged that a new peace proposal put forward by Qatar and Pakistan has received positive responses from Washington and Tehran, raising hopes that a breakthrough to halt the war could be announced possibly this week.
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