Brent crude rose 1.32% to $84.65 per barrel and WTI crude rose 1.04% to $78.99 per barrel on Monday, following a more than 7% decline in both benchmarks the previous week. Iranian Foreign Minister Abbas Araqchi stated that an agreement with Oman on the Strait of Hormuz is in final stages, with conditions including compensation, sanctions relief, and an end to U.S. military threats. Messages between Iran and the United States continue through intermediaries without direct dialogue.