Even as global oil supply has fallen by more than 10 million barrels per day, prices have remained relatively constrained. "Something is off" in the oil market math, JPMorgan Chase says.

Brent crude futures rose above $100 a barrel with no peace talks between the U.S. and Iran scheduled.

President Donald Trump on Saturday cancelled plans to send U.S. envoy Steve Witkoff and Jared Kushner to Islamabad, Pakistan for negotiations with Iran.

The price of a barrel of oil remains well below the $100 mark, but gas prices are still more than $4 per gallon on average, according to AAA. The price of oil per barrel was at $88.72 as of 5 a.m. MT/6 a.

June WTI crude oil (CLM26 ) on Monday closed up +1.97 (+2.09%), and June RBOB gasoline (RBM26 ) closed up +0.0372 (+1.12%). Crude oil and gasoline prices settled sharply higher on Monday, with gasoline posting a 3.

Crude oil prices held steady on April 28, with Brent at $108.62 and WTI at $96.92, as markets weighed diplomatic signals regarding Iran against ongoing supply disruptions in the Strait of Hormuz, leading analysts to revise price forecasts upwards due to potential continued bottlenecks.

Oil prices rose Sunday after an Iranian official warned that the Strait of Hormuz will “under no circumstances” return to its previous state.

Will oil prices go up? It’s impossible to forecast oil prices with detailed precision. Many different elements affect the market, but ultimately it boils down to supply and demand. When worries about economic recession,

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