Global crude oil prices stabilized on Monday, pulling back from earlier session highs that had pushed benchmarks above one-month levels.
The market pause reflects a tug-of-war between escalating geopolitical risks and emerging diplomatic signals.
While concerns over potential disruptions to shipments through the Strait of Hormuz initially drove prices higher, hopes for renewed negotiations between the United States and Iran provided a counterweight, limiting further upside.
Brent crude futures traded sideways after touching their highest levels in over a month earlier in the day.
The volatility underscores the market's sensitivity to developments in the Middle East, where shipping security remains a primary driver of energy pricing.
Investors are closely monitoring the Strait of Hormuz, a critical chokepoint for global oil flows, as any threat to its stability continues to weigh on sentiment.