Global oil prices rose amid uncertainty over talks between Iran and Oman to reopen the Strait of Hormuz and news of new attacks in the Middle East, according to market reports.
Brent crude oil rose to $84.46 per barrel.
Brent crude oil rose 1.09% to $84.46 per barrel, while US West Texas Intermediate (WTI) crude oil rose 0.78% to $78.79 per barrel.
Prices had fallen by more than 7% last week on expectations of a possible agreement to reopen the Strait of Hormuz.
Iran's Foreign Ministry said negotiations with Oman on new maritime routes have reached the final stage, and that the strait can be fully reopened only if the US fulfills conditions including paying compensation for operations against Iran.
Iranian Foreign Minister Abbas Araqchi said no direct talks are being held with the US and that Washington would not sit at the negotiating table unless it complies with the terms of the temporary agreement from June.
Market analysts said investors are waiting for concrete steps such as the physical start of tanker traffic or the signing of official protocols rather than abstract diplomatic statements.
Yemen's Houthis announced they targeted Saudi Aramco's Jizan refinery over the weekend. The attack came after Saudi Arabia signed a defense agreement with Turkey and Pakistan.
ADNOC, the UAE's national oil company, said 15 of its ships using the Strait of Hormuz had been attacked since the beginning of the conflict.
Before the war, about one-fifth of global oil supply was shipped through the Strait of Hormuz.
