Framing Analysis
Brent crude rose 0.42% to $88.89 per barrel and WTI crude rose 0.21% to $82.57 per barrel as of 7:20 am, following a more than 5% surge in both benchmarks the previous week. Commodity vessel crossings through the Strait of Hormuz fell to five on Saturday and zero on Sunday, down from 31 the prior weekend, after attacks on Abu Dhabi National Oil Company tankers and a Saudi Aramco facility. Iranian Foreign Minister Abbas Araqchi stated that Tehran has not decided whether to resume negotiations with Washington, while President Trump advised Americans to accept higher gasoline prices during the conflict.