Kathmandu. Oil prices have risen since US President Donald Trump pushed ahead with his claims related to Iran.

The two countries are holding new talks on Iran’s nuclear program in Geneva. West Texas Intermediate oil rose 1.5 percent to $63.80 a barrel, while international benchmark Brent North Sea crude also showed a smaller increase.

According to analyst Arin Chaekre, Iran and the US have started new talks, and Trump has warned of consequences if Tehran fails to make a deal. Iran has made it clear that the lifting of US sanctions is an essential part of any nuclear deal.

In other market indices, European stock markets were steady in early trade. Markets in Tokyo and China were closed for the festival. Wall Street will reopen on Tuesday due to the US public holiday.

The US dollar has risen against the British pound in the foreign exchange market, as unemployment in the UK has reached a five-year high, data showed. Analysts said the unemployment rate of 5.2 percent in the final quarter of last year has raised the possibility of the central bank cutting interest rates in the coming months.

Germany, Europe’s largest economy, is likely to find it difficult to grow again in 2026. Germany’s chamber of industry and commerce said geopolitical insecurity, higher costs and weak domestic demand would dampen growth.