Oil Prices Up 3% on Shifting Geopolitical Landscape

Oil Prices Up 3% on Shifting Geopolitical Landscape

Oil prices have seen a slight increase due to new U.S. sanctions on Iran and a stronger U.S. equity market, though concerns about trade tensions and a reduced global economic outlook could negatively affect future demand.

Crude oil prices rose in early trade on Monday, with investors taking advantage of Monday's price declines, although oil market investors remain cautious about U.S. tariffs and monetary policy, which could dampen demand for liquid gold, Reuters reported.