Crude oil prices have climbed amid renewed concerns over the fragility of the US-Iran ceasefire.
Reports indicate that President Donald Trump has signaled the truce is under strain, following the rejection of a counterproposal from Iran.
This has led to a rise in geopolitical risk, which is being priced into energy markets.
Brent crude has seen a notable increase, reflecting the market's sensitivity to developments in the region., with no immediate resolution in sight, and traders are closely monitoring for any further escalation.
The broader energy sector is also reacting to the heightened uncertainty.
Natural gas and LNG prices are showing signs of volatility, as are shares of major energy firms.