International oil prices increased following several days of retaliatory attacks between the United States and Iran, which disrupted energy transport through the Strait of Hormuz and exposed the fragility of their interim peace agreement. On Monday, Brent crude rose by 58 cents, or 0.8 percent, to 72.57 dollars per barrel, while U.S. West Texas Intermediate crude gained 88 cents, or 1.3 percent, to reach 70.11 dollars per barrel.

Analysts from ING warned that significant risks remain in the oil market, noting that if supply normalization takes longer than expected, prices could rise further. ANZ Bank analysts added that earlier assumptions about a quick recovery of oil supply from the Persian Gulf may now be reassessed. The two countries have agreed to halt attacks and plan to meet in Doha on Tuesday to discuss resolving their Hormuz Strait dispute.

Saudi Aramco resumed crude loading at its Ras Tanuma terminal last Friday after a four-month suspension, despite a helicopter crash there on Sunday that killed 14 people. Analysts cautioned that tanker congestion, damaged infrastructure, and halted production could delay a full supply recovery for the rest of the year.