Oil prices increased Monday following reports of slowed shipping traffic through the Strait of Hormuz, a vital global oil transit route. This rise coincides with the initial meeting between US and Iranian officials, convened under a temporary peace agreement, which reportedly experienced difficulties. Iran’s actions around the Strait of Hormuz, including previous closures and current slowdowns, are contributing to market anxieties about supply disruptions. Simultaneously, former US President Trump issued renewed threats of potential attacks, further exacerbating the situation. The price increase reflects concerns over geopolitical instability in the region and its potential impact on global energy markets. Analysts are closely monitoring the outcome of the US-Iran talks and any further developments regarding the Strait of Hormuz.