U.S. energy shares drifted higher on the news as oil prices retreated. According to data from ship-tracking firm Kpler, 19 tankers navigated the Strait of Hormuz on Saturday, followed by 14 on Sunday. While these figures represent only a fraction of prewar volumes, the uptick coincides with ongoing high-level talks aimed at normalizing transit through the critical waterway. The U.S. has also lifted its blockade on Iranian crude, clearing the path for an influx of supply.

Vice President JD Vance signaled a potential breakthrough in regional tensions, stating that Iranian officials have agreed to permit United Nations nuclear inspectors to return to the country as early as this week. This diplomatic opening is viewed as a prerequisite for a permanent cessation of hostilities. Meanwhile, the explosion at Qatar’s gas plant introduces significant supply chain volatility, complicating the nation's efforts to stabilize exports currently hampered by the broader conflict.