Oil prices rise on global markets

Oil prices rose on global markets on Monday as concerns over Middle East supplies and expectations regarding major producers continued to support the market.

Brent crude futures gained after losses recorded last week, while investors closely monitored developments around the Strait of Hormuz and regional tensions.

Market participants are also assessing the outlook for global demand and future policy decisions by OPEC+ producers.

Higher oil prices tend to support the currencies and financial markets of hydrocarbon-exporting countries.

N.Tebrizli