Oil prices climbed Monday as the stalled peace talks between the United States and Iran heightened fears of a prolonged supply disruption.
The situation has led to increased volatility in energy markets, with traders reacting to the geopolitical uncertainty.
27% to $110, reflecting the market's sensitivity to the ongoing standoff.
Brent crude futures for July rose 1.27% to $110, reflecting the market's sensitivity to the ongoing standoff.
Analysts point to record-low oil inventories as a key factor amplifying the price response to any potential supply shocks.
The impasse comes after President Donald Trump issued a warning to Iran over the weekend, signaling that the current stalemate could escalate into renewed military conflict.
This has raised concerns about the stability of critical shipping routes, particularly in the Strait of Hormuz, a vital artery for global oil exports.