US: Brent rises above $72 as US-Iran halt in strikes eases Hormuz fears.

***FILE FOOTAGE*** SHOTLIST RIO DE JANEIRO, BRAZIL (MARCH 25, 2026) (FILE FOOTAGE) (PART MUTE) 1. VARIOUS DRONE SHOTS OF THE 2. VARIOUS OF TRUCKS AND OIL TANKER TRUCKS OUTSIDE THE REFINERY HARRISON, TEXAS, UNITED STATES (FEB. 28, 2026) (FILE FOOTAGE) (MUTED) 3. VARIOUS DRONE SHOTS OF THE AIR LIQUIDE–EASTMAN INDUSTRIAL FACILITY AS OPERATIONS CONTINUE NEW YORK, UNITED STATES (MARCH 6, 2026) (FILE FOOTAGE) (MUTED) 4. VARIOUS DRONE SHOTS SHOWING THE PHILLIPS 66 OIL REFINERY ALMETYEVSK, TATARSTAN, RUSSIA (AUGUST 2023) (FILE FOOTAGE) 5. VARIOUS OF OIL WELLS AT TATNEFT FIELDS 6. VARIOUS OF STAFF WORKING NEAR OIL WELLS 7. VARIOUS OF OIL WELLS MUMBAI, INDIA (MARCH 12, 2026) (FILE FOOTAGE) 8. VARIOUS OF THE TANKER SHIP “SHENLONG” NEAR MUMBAI PORT OMAN (APRIL 8, 2026) 9. VARIOUS OF SHIPS ON STRAIT OF HORMUZ***FILE FOOTAGE*** RIO DE JANEIRO, BRAZIL / HARRISON, TEXAS, UNITED STATES / NEW YORK, UNITED STATES / ALMETYEVSK, TATARSTAN, RUSSIA / MUMBAI, INDIA / OMAN: Oil prices rose on Monday as Brent crude climbed above $72 per barrel, recovering from four-month lows after renewed US-Iran tensions around the Strait of Hormuz revived supply concerns. International benchmark Brent rose 0.6% to around $72.5 per barrel as of 1020GMT, supported by worries over commercial shipping after a series of tit-for-tat attacks near the vital waterway. The latest escalation began after Iran targeted a container ship, prompting US strikes. Washington later launched another round of attacks after Tehran struck a tanker carrying Qatari oil. However, the rise in prices was limited after the two sides agreed to halt further strikes ahead of talks expected in Doha on Tuesday. According to Axios, US and Iranian officials are set to discuss the Strait of Hormuz and other issues aimed at ending the conflict. Tehran, however, said that the talks are not confirmed. The Strait of Hormuz, between Iran and Oman, is one of the world’s most critical energy routes, carrying about a fifth of global oil and liquefied natural gas trade. Shipping activity through the waterway has improved since the US and Iran reached an interim peace agreement, but shipowners remain cautious as security risks persist and many vessels are still delayed in the Persian Gulf.