According to Alexey Belogoryev, uncertainty on the market persists because of the situation surrounding US-Iran negotiations, although market participants have already partially adapted to geopolitical risks

Oil prices are sliding on hopes of a Hormuz supply flood, but analysts warn the rebound is driven by stranded tankers, not new flows.

Oil edged higher on Monday after renewed military strikes between the U.S. and Iran reignited concerns over crude supplies from the Middle East.