The price of oil is rising against the backdrop of Trump's increasingly harsh rhetoric towards Iran. Iran rejects a temporary ceasefire and calls for a permanent end to the conflict.

Oil prices rose slightly on Monday, in a volatile trading session, as investors awaited clarifications regarding the indirect negotiations between the United States and Iran.

Brent crude futures rose by 0.96% to $110 a barrel, while U.S. West Texas Intermediate (WTI) increased by 1.32% to $113 a barrel. Monday's movements come after strong gains in the previous trading session, when WTI rose by about 11% and Brent by 8%, the largest absolute price increase since 2020.

The United States and Iran received, through diplomatic intermediaries, a framework plan for ending hostilities, as part of mediation efforts. However, Tehran rejected the immediate reopening of the Strait of Hormuz. U.S. President Donald Trump threatened to "unleash hell" on Iran if an agreement is not reached by the end of Tuesday.