InfoHub Logo

Global oil prices saw a sharp increase of approximately 6% during Monday's trading session، driven by heightened uncertainty surrounding peace talks between the United States and Iran.

Brent and WTI Crude Prices Rise

Futures for Brent crude oil climbed by 5.64%، reaching $95.48 per barrel. Simultaneously، American West Texas Intermediate (WTI) crude oil prices rose by 6.87%، trading at $89.61 per barrel.

Concerns Over Negotiations Escalate

This surge follows a notable drop of 9% in both oil benchmarks last Friday. The earlier decline was attributed to Iran's announcement that passage through the Strait of Hormuz would be permitted for all commercial vessels until the end of a ceasefire period.

However، weekend developments، including reports of the U.S. seizing a cargo ship attempting to breach the blockade and Iran's readiness to retaliate، reignited fears of renewed military actions.

President Trump's Statement

Adding to the market's volatility، U.S. President Donald Trump indicated to reporters the possibility of a "massive" bombing campaign if a temporary truce with Iran were to collapse. He did not specify when or where such actions might occur.