Oil prices rise as Iran holds naval exercises before new US-Iran talks.

Oil prices edged up slightly, with traders closely watching the geopolitical risks ahead of negotiations between the United States and Iran, expected to restart on Tuesday. Brent crude, after experiencing two consecutive weeks of declines for the first time this year, is trading above $68 per barrel; WTI crude is hovering around $64 per barrel. The Iranian Islamic Revolutionary Guard Navy conducted a "smart exercise" near the Strait of Hormuz. This strait is a crucial global waterway through which about one-fifth of the world's oil transportation passes.