Crude oil prices rise as uncertainty over the reopening of the Strait of Hormuz lingers, impacting global markets.

Oil prices rose over 1% on Monday as prospects of reopening Hormuz remained stuck in limbo. Brent crude gained 1.32% to $84.65 a barrel, around 7:30 am IST while WTI crude rose…

Crude oil prices surged due to uncertainty surrounding the Strait of Hormuz reopening, while gold stabilized after achieving its strongest weekly performance since January.