Crude oil futures rose on Monday on the back of new tensions in the Middle East. After US President Donald Trump ordered a reprisal attack on Iran after a US reconnaissance plane was shot down near the Strait of Hormuz. However, he said he retracted the proposed strike in favor of imposing new sanctions on Tehran, which is due to be announced later in the day.

Trump's comments supported the rise in oil prices. Trump wrote in a tweet over the weekend after retreating from a military strike on Iran over a US military strike that would impose significant additional sanctions on Tehran and that he wanted to hold talks With its leaders "without preconditions" to ensure that they do not possess a nuclear weapon. On the other hand, the data of oil service provider "Baker Hughes" the number of active platforms in the United States fell by 3 platforms to 351 platforms during the week, the fourth decline in a row.

US Secretary of State Mike Bombo said on Sunday he wanted to build a global alliance against Iran as he leaves for the Middle East. "We will talk to them about how to make sure we are all strategically allied and how we can build a global alliance, not just across the Gulf, but in Asia and Europe, understand this challenge and be prepared to respond to the world's largest state sponsor of terrorism."

Novak: World oil deal contributed to the stability of markets

Russia's Energy Minister Alexander Novak said on Monday that the world's crude producers' agreement to curtail production had stabilized oil markets and made investment attractive. Novak said at an energy forum in the Russian city of St Petersburg that competition is raging in world energy markets.

Oil contracts

• Brent crude futures for August rose 0.67% at 8:25 CET for selling at $ 64.93 per barrel.
• While the WTI broker for August delivery jumped 1.08% to $ 58.15 a barrel at the same time.