West Texas Intermediate (WTI) oil continued its upward trend on Monday with a slight increase of 0.47%, reaching $100.11 per barrel. This rise is attributed to signals that the war in Iran could be prolonged. At 09:00 local time (13:00 GMT), WTI futures contracts, the benchmark crude oil in the U.S., had gained 0.47 dollars from the previous day's close. U.S. President Donald Trump warned Iran that his country would destroy its oil wells, power plants, and the island of Jarg unless the Strait of Hormuz, through which a fifth of the world's oil and natural gas supply flows, was reopened. Additionally, Trump stated that Iran would allow the passage of 20 more oil tankers through the strait. The president described this decision as a 'tribute' to the U.S. and a sign that negotiations to end the war are underway. Meanwhile, U.S. troops continue to deploy in the Middle East; there are currently over 50,000 personnel in the region.
