Oil Rises as US and Iran Agree to Halt Strikes, Resume Talks in Doha

Oil prices moved higher on Monday following reports that the United States and Iran have agreed to halt military strikes and resume talks in Doha. The agreement calms immediate supply concerns in the region, particularly regarding potential disruptions to shipments through the Strait of Hormuz.

Traders remain cautious, however, keeping a close watch for any new escalation that could threaten tanker traffic. The development is seen as a short-term de-escalation rather than a definitive resolution, leaving the risk of further volatility in crude markets.