Oil Prices Rise Amidst US-Iran Tensions

Crude oil prices increased on Monday due to stalled efforts to end US-Iran conflict and an attack on a UAE nuclear power plant, with expectations of US military options against Iran. Brent crude rose to $110.70 per barrel and WTI to $107.26, reaching multi-week highs. Last week's talks between President Trump and Xi Jinping concluded without progress, while drone attacks in the UAE and Saudi Arabia heightened concerns about escalation. President Trump is scheduled to discuss military actions regarding Iran with advisors.