Oil Rose 3% to Open the Week: Here’s What Moved the Market on Monday

Oil prices increased significantly at the start of the week, with Brent crude exceeding $116 a barrel and WTI climbing near $102 per barrel. This rally was fueled by escalatory developments in the ongoing conflict involving the US and Iran. Specifically, President Trump suggested he might seize Kharg Island, Iran's primary crude export terminal, while Iran's parliament speaker warned of severe consequences for US forces and allies in the region. Analysts warn that if the Strait of Hormuz remains closed, oil prices could climb further, with some discussions pointing toward $150 or even $200 per barrel. This energy shock negatively impacted Asian stock markets, causing significant drops in indices like Japan's Nikkei 225 and South Korea's KOSPI, and also introduced volatility into crypto markets, which are sensitive to inflation expectations driven by high oil prices.

(Source：BeInCrypto)