00:00Moving on with some international updates.
00:02All prices settled over 1% higher on Monday after volatile trading through the session
00:07as traders wear hopes of renewed U.S.-Iran negotiations against Yemen's Houthi's imposition of a naval blockade against Saudi Arabia.
00:15The Middle East conflict escalated over the weekend with the U.S. conducting a ninth straight night of attacks against
00:21Iran
00:21while U.S. allies Kuwait and Bahrain reported more Iranian strikes.
00:27Brand Group futures settled at $1.12 or around 1.3%, higher at $89.22 a barrel after heating $91
00:36.42 for their highest since June 11.
00:39U.S.-West Texas Intermediate Group closed $0.74 or 0.9%, higher at $83.23 after touching its highest level
00:48since June 12 at $85.39.
00:51Mediators have passed Iran a proposal to de-escalate the war with the U.S.,
00:56suggesting a 10-day ceasefire to find ways to revive an interim deal reached last month, a senior Iranian official
01:02took Reuters on Monday.
01:04Yemen's Iran-align Houthi said on Monday they would impose a naval blockade on Saudi Arabia,
01:09opening a potential new front against the United States in its war with Iran
01:13and raising the threat to global energy supplies and trade beyond the Gulf.
01:17However, a record amount of crude oil on water, estimated around at 1.35 billion barrels,
01:23could limit the next leak of oil price increases.
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