According to CoinMeta, oil prices have risen in the past 24 hours. Iran has shifted to a more aggressive stance, and Trump has threatened to bomb Oman if it interferes with U.S. operations in the Strait of Hormuz. Brent and WTI crude oil saw a slight increase in trading on Monday, but the market reacted relatively calmly to the failure to renew the memorandum of understanding. Iran's rhetoric shifting from defensive to more aggressive, coupled with the news of UAE oil tankers being detained, has maintained a risk premium for Brent oil prices. U.S. Energy Secretary Chris Wright stated that although Iran is currently unable to export crude oil, global supply does not depend on it, and Trump's strategy is to wait patiently rather than escalate the conflict.