When trading opened at midnight on Monday, North Sea oil immediately climbed. At 4:30 a.m., the futures price was $104.75 per barrel.
Futures for U.S. WTI crude rose to $99.05 per barrel. When trading closed on Friday, the prices were $101.29 and $95.42 per barrel, respectively.
On Sunday, Iran responded to the U.S. peace plan. U.S. President Donald Trump called the response "completely unacceptable." Iranian President Masoud Pezeshkian wrote on X that Iran will not "give in to the enemy."
Before the war began on February 28, oil cost around $70.
