Oil prices approached $100 per barrel on Thursday as tanker traffic through the Strait of Hormuz remained restricted. President Donald Trump told reporters on Thursday that the United States and Iran are "very likely" to hold a new round of talks over the weekend. No formal meeting date has been set yet. A two-week ceasefire agreement between the U.S. and Iran is set to expire on Tuesday, April 21. On Thursday, crude prices once again neared $100 per barrel as tanker volumes transiting the Strait of Hormuz remained extremely low, with the full reopening of this critical maritime passage still uncertain. The June contract for Brent crude, the international benchmark, surged nearly 5%, closing at $99.39 per barrel. The May contract for West Texas Intermediate crude rose nearly 4%, settling at $94.69 per barrel. Only a handful of tankers are currently passing through the strait each day due to the U.S. naval blockade of Iran’s coast and Tehran’s threats of retaliation against vessels in the Persian Gulf. President Donald Trump told reporters on Thursday that the U.S. and Iran are "very likely" to hold a second round of talks over the weekend. However, no official meeting date has been confirmed. Trump previously announced that Israel and Lebanon had agreed to a 10-day ceasefire. The war between Israel and Hezbollah was a major sticking point that led to the failure of last weekend's U.S.-Iran talks in Pakistan. According to informed sources, several European and Gulf Arab leaders believe it could take up to six months of negotiations for the U.S. and Iran to reach an agreement. Meanwhile, the two-week ceasefire between the U.S. and Iran is scheduled to expire on Tuesday, April 21. Trump agreed to the ceasefire on the condition that Iran open the strait to traffic, but Tehran has continued efforts to maintain control over shipping through the maritime passage.