Oil prices have rebounded after the United States seized an Iranian tanker, jeopardizing peace talks with Iran expected to be held this week.
Brent crude rose 6.3% to $96 a barrel, while WTI rose 7% to $88.3. The market has been volatile in recent days, after Iran initially announced the reopening of the Strait of Hormuz, but then closed it again, citing the US blockade.
According to analyst Thomas Mathews of Capital Economics, this change has weakened markets, although investors remain optimistic about a possible deal.
Meanwhile, tensions rose after Iran called the US action "maritime robbery" and warned of retaliation, while President Donald Trump threatened attacks if a deal was not reached.
On Sunday, no tankers passed through the Strait of Hormuz, marking one of the quietest days in this key route since the conflict began.
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