Global oil prices continued to climb on Monday, rising by more than 2 percent as geopolitical tensions and supply constraints supported the market. The increase comes as peace talks between the United States and Iran remain stalled, raising uncertainty over future oil flows and regional stability.

Shipping activity through the Strait of Hormuz, a key route for global oil transport, has remained limited, contributing to tighter supply conditions. This has added upward pressure on prices as markets react to the risk of reduced availability.

According to Bloomberg, Brent crude futures rose by 2.16 dollars, or 2.05 percent, to reach 107.49 dollars per barrel, marking the highest level since April 7. Meanwhile, US West Texas Intermediate crude increased to 96.17 dollars per barrel, up 1.77 dollars, or 1.88 percent.

The latest gains build on last week’s strong performance, when Brent and West Texas Intermediate recorded increases of approximately 17 percent and 13 percent respectively. These were the largest weekly gains since the start of the war, reflecting continued volatility in global energy markets