Oil price today: Brent crude jumps over 1% as traders await Hormuz reopening
On Monday, Brent crude oil prices rose over 1% as traders anticipated the reopening of the Hormuz Strait. Iran and Oman are nearing an agreement for a shipping lane, but Iran's demands from the U.S. remain unresolved. Market tensions heightened following Houthi rebels' attacks on Saudi Aramco's Jazan refinery, raising concerns about oil shipment security.