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Oil prices spiked by over 3% this Monday as tensions between Iran and Israel deepen. Market analysts are closely monitoring potential impacts on global energy supply chains and regional stability.

For the first time in two months, Iranian oil tankers have left the US-monitored blockade zone as both nations prepare to sign a new memorandum of understanding to restart talks.

Reports from the BBC indicate the US military targeted an oil tanker reportedly bound for Iran, signaling a potential escalation in regional maritime enforcement.