Oil prices surged on Monday, with Brent crude futures climbing 2.05% to $107.49 per barrel, while US West Texas Intermediate increased by 1.88% to $96.17 per barrel. This rise comes amid stalled peace negotiations between the US and Iran, following US President Donald Trump's cancellation of a planned trip to Pakistan by his envoys. The limited shipments through the Strait of Hormuz have further tightened global oil supplies, with only one oil products tanker entering the Gulf on Sunday. Last week, both Brent and WTI experienced their largest weekly gains since the onset of the war, with increases of nearly 17% and 13%, respectively. Analysts from Goldman Sachs have adjusted their fourth-quarter price forecasts, predicting $90 per barrel for Brent and $83 for WTI, citing reduced output from West Asia and potential economic risks associated with oil price fluctuations.