Oil prices surged Monday as shipping through the Strait of Hormuz slowed amid escalating tensions. Talks between U.S. and Iranian officials began on a rocky note, with Iran citing violations of a peace deal. Despite expectations of increased supply and potential sanctions relief, the market reacted to disruptions in a key oil transit route, highlighting ongoing geopolitical risks.
Oil prices surged Monday as shipping through the Strait of Hormuz slowed amid escalating tensions. Talks between U.S. and Iranian officials began on a rocky note, with Iran citing violations of a peace deal. Despite expectations of increased supply and potential sanctions relief, the market reacted to disruptions in a key oil transit route, highlighting ongoing geopolitical risks.
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