Oil and natural gas prices surged after the US Navy seized an Iranian ship, following Tehran's shelling of European vessels and its regaining control of the Strait of Hormuz. Bloomberg reports this, according to UNN.
Details
It is noted that Brent crude oil prices jumped by 7.9%, recovering most of Friday's losses after the announcement of the reopening of the Strait of Hormuz, with gas prices rising by 11%.
The market is still pricing in risk premiums ahead of the deadline, but it's just not fully committed to it. If things continue as they are, we will likely see a gradual increase (in oil prices - ed.) to around $105–115.
The publication adds that US Vice President J.D. Vance, Special Envoy Steve Witkoff, and Trump's son-in-law Jared Kushner are scheduled to depart for Islamabad on Monday evening for negotiations.
US troops seize Iranian vessel after blockade attempt20.04.26, 02:16
Context
Earlier, United States forces attacked and seized an Iranian-flagged vessel when it attempted to "break through" a blockade in the Gulf of Oman. This was announced by US President Donald Trump.
Previously, Tehran refused to meet with US representatives due to Washington's "excessive demands" and the naval blockade. The two-week ceasefire agreement expires this Wednesday.
Earlier, Iranian President Masoud Pezeshkian stated that the US has no right to influence the country's nuclear program, amid the approaching end of the ceasefire.
Prior to this, US President Donald Trump convened an urgent meeting in the White House Situation Room due to the threat of renewed war with Iran within days.
Netanyahu announced the continuation of Israel's and the US's fight against Iran20.04.26, 04:02