Brent crude oil prices rose on Monday as global markets reacted to ongoing geopolitical tensions and concerns over supply disruptions. The benchmark gained around 2% at the start of the week, reflecting continued sensitivity in energy markets to developments in the Middle East.
Brent crude from the North Sea increased by $2.16, reaching $107.49 per barrel. At the same time, U.S. West Texas Intermediate (WTI) also moved higher, rising by $1.77 to trade at $96.17 per barrel. Both benchmarks extended gains from the previous week, showing strong upward momentum.
Last week, oil prices recorded sharp increases. Brent surged by 17%, while WTI rose by 13%. These were the strongest weekly gains seen since the escalation of tensions involving Iran, highlighting how quickly market sentiment can shift in response to political risk.
One of the main factors supporting prices is continued concern over the Strait of Hormuz. The strategic waterway remains a key route for global oil shipments, and any disruption raises fears of tighter supply in international markets. Traders are closely monitoring activity in the region as risks remain elevated.
Uncertainty over diplomatic talks between the United States and Iran has also influenced market direction. Expectations for progress weakened after signals suggested negotiations had stalled. Former U.S. President Donald Trump rejected the idea of sending an American delegation to Pakistan for talks, reducing hopes for near-term diplomatic breakthroughs.
Despite this, Iran continues to present new proposals aimed at reviving negotiations. Market analysts say the next move now depends largely on Tehran’s response to U.S. conditions.
Tony Sycamore, an analyst at IG, said the situation is now in Iran’s hands. He noted that any continued restrictions on oil exports or shipping routes could increase pressure on Iran’s economy. He added that such pressure may eventually force Iran to soften its position and consider compromise.
Overall, oil markets remain highly sensitive to geopolitical developments, with traders closely watching both supply risks and diplomatic signals.
