Global oil prices are trading higher on Thursday in Asia after Iran's foreign minister said the country has "no intention of negotiating for now" with the US.

On Wednesday, Abbas Araghchi told state media that exchanges between Tehran and Washington had been “conveyed via friendly countries” and do not mean negotiations are being held.

In response US President Donald Trump said Iran's leaders are "afraid" to admit that they are in talks.

Brent crude rose by 1.6% to $103.85 (£77.71), while West Texas Intermediate was 1.4% higher at $91.61.

Source : BBC