Oil prices are higher in Asian trade after talks in Geneva aimed at convincing Iran to halt nuclear programme made little progress.


New York's main contract, light sweet crude for August rose 82 cents to $129.70.


Investors are focused on the geopolitical situation in the oil-rich Middle East after efforts to make Iran halt its nuclear programme.


"It was a constructive meeting, but still we didn't get the answer to our questions," said EU foreign policy chief Javier Solana.


"There is always progress in these talks, but insufficient," he said, adding that the Iranians were expected to respond to the latest negotiations within two weeks.


"We hope Iranian people understand, that their leaders need to make a choice between cooperation and confrontation", said spokesman Sean McCormack.