Oil prices experienced an increase on Monday due to ongoing uncertainty surrounding the reopening of the Strait of Hormuz.

• Brent crude futures rose 1.09% to $84.46 a barrel, while US West Texas Intermediate crude futures increased by 0.78% to $78.79 a barrel.
• Iran has stated that a deal with Oman defining new shipping lanes is in its final stages, but insists that the US must meet other conditions.
• A Saudi oil plant was also attacked over the weekend, with Iran-aligned Houthis claiming responsibility.