Oil prices rose >2% on Monday, Brent at $107.46/bbl and WTI at $96.29/bbl amid stalled US‑Iran talks.
Analyst Tamas Varga warns oil could surge above $150 per barrel if Middle East conflict persists, citing supply losses outweighing demand destruction.
Iran proposed reopening the Strait of Hormuz, deferring nuclear talks, while the US demands uranium handover and maintains blockade conditions.
Even a cease‑fire would leave a high risk premium and concerns over renewed strikes on regional oil infrastructure.