Brent crude prices climbed above $86 a barrel on Monday, marking the first time the benchmark has traded at that level since the United States and Iran agreed to extend their ceasefire.
The move represents a roughly 4% gain in the session, adding to a nearly 10% surge recorded the previous day.
The sustained rally underscores a shifting market dynamic in which energy assets are significantly outperforming broader equity indices.
Investors appear to be repricing supply risks and geopolitical premiums, driving both Brent and West Texas Intermediate (WTI) to their highest levels in four weeks.
The momentum suggests that the recent diplomatic de-escalation has not dampened demand for oil, but rather triggered a repricing of near-term supply constraints.
This development follows a period of heightened volatility in the energy complex.