Oil Prices Climb Amid Ongoing Supply Disruptions
Oil prices rose slightly on Monday due to supply worries after US President Donald Trump rejected an Iranian proposal to reopen the Strait of Hormuz.
The Qatari mediators have pledged to hold talks with both sides, which could lead to a peace deal and the resumption of oil shipments through the strait.
Brent futures settled up 96 cents at $105.28 per barrel, while US West Texas Intermediate (WTI) crude rose 19 cents to settle at $92.60 per barrel.