Commodity traders indicated that crude oil prices began the week with a strong upward trend, registering gains exceeding three percent during Monday morning trading in Asia.

This volatility is a direct response to the stalled peace talks.

US President Donald Trump described Iran’s response to the peace proposal as “totally unacceptable,” while Israeli Prime Minister Benjamin Netanyahu warned that the conflict “is not over.”

Given this situation, hopes for an immediate reopening of the strategic Strait of Hormuz have faded, leaving passage restricted.

WTI Crude (June) is trading near $99 per barrel, up approximately 3,9% during the session, reaching $99.89 after opening at $97.68.

Meanwhile, Brent Crude (July) is trading around $105 per barrel, experiencing an increase of approximately 3,5%, with an intraday high of $105.50.

Analysts note that the market remains tight due to persistent supply disruptions, estimated at one million barrels per day.

Any further diplomatic deterioration could continue to exert upward pressure on crude oil prices in the coming days.

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