Crude oil closed sharply higher on Monday as headlines about the Iran–U.S. standoff whipsawed markets. Brent crude settled at $112.10 per barrel — up 2.6 percent — while West Texas Intermediate climbed 3.07 percent to $108.66.
The spike came after an Axios report indicated that Washington considers Iran’s latest proposed deal insufficient, reigniting fears of a fresh escalation. “The market evolves at the pace of the news cycle,” analyst Robert Yawger of Mizuho USA told AFP. Earlier in the session, prices had briefly dipped on Iranian media reports suggesting a deal was in the works, illustrating just how tightly energy markets are tracking every diplomatic signal.
