CRUDE WRAP: WTI (U6) SETTLES USD 3.95 HIGHER AT 82.13/BBL; BRENT (V6) SETTLES USD 4.17 HIGHER AT 87.72/BBL

The crude complex jumped in the first trading session of the week, as US-Iran tensions remain uncertain. Aiding the upside in the US afternoon was a Trump Truth stating, "in response to Iran's requests for compensation during the conflict, he is demanding compensation from Iran, for all of the people that they have killed and gravely wounded with their roadside bombs and many conflicts". Over the weekend, US, Iran and Oman continued negotiating a temporary plan to partially reopen the Strait of Hormuz, although Iran said no immediate reopening was guaranteed. Iran continues to demand major concessions, while disputes remain over banning US/Israeli ships and imposing transit fees under an Oman-Iran traffic-management deal. On that footing, Iran's Foreign Ministry spokesperson said Iran is currently focused on the Strait of Hormuz rather than resuming negotiations with the US. All-in-all, headline newsflow was very quiet on Monday and WTI and Brent ground higher for the duration of the US day to settle at highs. The headline risk event this week is US CPI on Wednesday.