On Monday, energy stocks experienced a collective upward movement, with Apache (APA.US) climbing over 5%, Murphy Oil (MUR.US) rising over 4%, and Occidental Petroleum (OXY.US), Chevron (CVX.US), and Exxon Mobil (XOM.US) all advancing over 3%. ConocoPhillips (COP.US) also saw gains of over 2%.

This rally was driven by a continued rise in international crude oil prices, supported by uncertainty surrounding the reopening of the Strait of Hormuz and ongoing tensions in the Middle East. WTI crude oil futures expanded their gains to 2.80%, reaching $80.35 per barrel, while Brent crude futures increased by 3% to $82.64 per barrel.

Iran has reiterated several conditions before agreeing to a full reopening of the strait. According to reports, conditions proposed by Iran's Supreme National Security Council Secretary, Ali Shamkhani, include ending the U.S. naval blockade and the withdrawal of U.S. Navy and Air Force from the vicinity of Iran. Tehran is also demanding compensation for losses from recent conflicts, the lifting of sanctions, and the unconditional unfreezing of its assets. These demands have currently reduced the likelihood of a rapid return to normal shipping operations, helping to maintain a risk premium in WTI prices.