Crude oil prices moved higher on Monday as uncertainty over a possible end to the US-Iran conflict increased. Brent crude rose around 1.6% to $106 a barrel, while US crude gained about 1.1% to $93.47. The movement came after US President Donald Trump rejected an Iranian proposal linked to reopening the Strait of Hormuz, although further talks are expected this week.
The conflict continues to affect global energy and shipping markets. At the same time, Middle Eastern oil exports have recovered in September, with Saudi Arabia and the UAE increasing shipments. Regional exports are estimated at 12.8 million barrels per day, although they remain below pre-war levels.
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