Some analysts predicted the price of crude oil could hit $150/bbl or even $200 when the U.S.-Iran war effectively shut the Strait of Hormuz, the vital gateway for 20% of global supply, but Brent crude futures peaked at $126/bbl and averaged ~$100 between the start of the conflict on February 28 and June 11,

The dollar index (DXY00 ) rose by +0.18% on Monday. The dollar strengthened on Monday as escalation of hostilities between the US and Iran is boosting crude oil prices, which raises inflation expectations that could prompt the Fed to tighten monetary policy,

Michelle Brouhard, Head of Policy and Geopolitical Risk at Kpler, says oil prices could climb above $100 a barrel if both the Red Sea and the Strait of Hormuz are closed. She adds there have been bottlenecks forming in refined oil product shipments,

Brent crude oil prices exceed $90 amid rising Iran War tensions. New all-time high by December 31 at 15.5% YES.

August WTI crude oil (CLQ26 ) on Monday closed up +0.74 (+0.90%), and August RBOB gasoline (RBQ26 ) closed down -0.0037 (-0.11%). Crude oil and gasoline prices settled mixed on Monday, with crude oil rallying to a 5-week high amid the escalation of hostilities between the US and Iran,

American forces have started the ninth consecutive night of strikes against Iranian targets.

Higher global crude prices drove India's oil import bill 60% higher in the April-June quarter, increasing inflation and fiscal risks amid renewed Middle East supply concerns.

Oil prices rose while U.S stock-index futures were little changed on Sunday, amid an escalation of fighting in the Middle East and as investors await key tech earnings this week.