Oil prices hold steady as Hormuz shipping slows while Iran-US peace talks stall

Oil prices hold steady as Hormuz sees less activity while Iran-US talks on Strait opening stallsOil prices remained largely unchanged in early trade on Monday as a sharp drop in vessel movements through the Strait of Hormuz heightened concerns over supplies, while efforts to end the US-Iran conflict showed no sign of progress.Brent crude gained 0.42% to $88.89 per barrel while WTI crude rose 0.21% to $82.57 as of 7:20 am.The slowdown comes after both benchmarks surged more than 5% last week, following attacks on tankers operated by Abu Dhabi National Oil Company in the Strait of Hormuz and a separate attack on a Saudi Aramco refinery.In the Middle East, Iran and the United States remained at odds over talks to resolve the conflict. Iranian foreign minister Abbas Araqchi said that Tehran is