Oil prices rose sharply on Monday, after the U.S. seizure of an Iranian vessel hit hopes for a peace deal.
The price of futures contracts of Brent crude oil for June 2026 delivery has increased over $97 per barrel on London's ICE, according to trading data.
As of 1:00 a.m. Moscow time (10:00 p.m. GMT, April 19) the Brent price was up by 5.5% at $97.5 a barrel.
As of 2:38 a.m. Moscow time (11:38 p.m. GMT, April 19) the Brent price was at $96.62 per barrel.
Meanwhile the price of futures contracts of WTI crude oil for June 2026 delivery was up by 5.35% at $88.49 per barrel.
Oil prices had slumped 9% on Friday, after Iran said it would reopen the strait of Hormuz during its agreed two-week ceasefire period, and Trump said Iran had agreed to never close the key shipping channel again.
