Brent and WTI oil prices dropped 6-7% in the first session of the week, driven by investor optimism that the US and Iran are nearing a peace agreement.

EU officials warn oil and gas prices will remain higher than pre-Iran conflict levels until at least late 2027.

International Energy Agency (IEA) director Fatih Birol stated oil inventories are rapidly depleting as the world enters a new planting season and summer travel period.

Oil prices climbed by 3 USD per barrel after President Trump labeled Iran's response to a US peace offer as "completely unacceptable."

The conflict with Ukraine and new Western sanctions could hinder Russia from capitalizing on the oil price surge over the past two months.

Middle East tensions push US gasoline prices to four-year high as summer approaches

Crude oil prices fell over 4%, while Wall Street and gold rose as the US declared continued ceasefire with Iran.

Middle Eastern countries are at risk of their worst economic crisis since the pandemic, with gross domestic product potentially falling by up to 6% this year due to ongoing conflict, according to Reuters.

News of conflict in the Middle East has driven Brent crude prices up for several consecutive sessions, now exceeding 106 USD a barrel.

Global oil prices rose 8% per barrel, while gold prices fell nearly 80 USD an ounce as US-Iran tensions intensified.

The International Energy Agency (IEA) warns Europe only has enough jet fuel for a few weeks, potentially leading to severe economic consequences.

Brent crude traded around 98 USD per barrel, up nearly 5%, while the S&P 500 and Nasdaq Composite indices achieved new highs for the second consecutive session.

US treasury secretary states temporary policy allowing countries to buy Russian oil at sea will not be maintained.

Hopes for a second round of negotiations between the US and Iran pushed crude oil prices near 90 USD, while gold prices surpassed 4,800 USD per ounce.