Brent June futures rose 4.4% to $99.37/barrel, retreating from a $103.88 session high after Trump’s Hormuz traffic claim.
U.S. Navy blockade of the Strait of Hormuz began at 10:00 ET Monday, with Trump citing 34 ships passed Sunday, the highest since the closure.
Cease‑fire talks in Pakistan failed; Vice President JD Vance left after 21 hours, raising risk of further U.S.–Iran hostilities.
Potential limited U.S. air strikes on Iran were discussed, adding to oil‑market supply‑disruption concerns.