Oil prices pared gains made earlier in Monday's session after the U.S. military announced that two U.S. Navy guided-missile destroyers entered the Gulf region to break the Iranian blockade, and that two American vessels successfully transited the Strait of Hormuz.

This followed earlier Iranian claims that it had prevented a U.S. warship from entering the Gulf.

Brent crude futures rose by $2.05, or 1.9%, to $110.22 per barrel by 13:07 GMT, after touching a session high of $114.30. U.S. West Texas Intermediate (WTI) rose by 47 cents, or 0.5%, to $102.41 per barrel, after previously reaching $107.46.

Prices had jumped following a report by Iran’s Fars News Agency, which cited local sources claiming Tehran targeted a U.S. warship intending to cross the Strait and forced it to retreat. U.S. Central Command (CENTCOM) denied the report, confirming that no U.S. Navy ship had been attacked.

Giovanni Staunovo, an analyst at UBS, noted that the price trajectory remains tilted to the upside as long as restrictions on oil flows through the Strait persist.

President Donald Trump announced that the United States would begin efforts to assist stranded vessels in the Strait; however, prices remained above the $100 per barrel mark in the absence of a peace agreement and the continuation of shipping restrictions through the strategic waterway.

In response, Iranian forces warned the U.S. against entering the Strait, asserting they would "respond forcefully" to any threat. While Trump has prioritized a new nuclear deal, Iran seeks to delay nuclear talks until after the conflict ends, demanding the lifting of the mutual naval blockade in the Gulf first.

In a related development, the United Arab Emirates accused Iran of launching a drone attack on an empty ADNOC crude oil tanker attempting to transit the Strait.

Separately, OPEC+ announced on Sunday that it would raise oil production targets by 188,000 barrels per day in June for seven of its members, marking the third consecutive monthly increase. This increase matches the amount agreed upon for May, excluding the quota for the UAE, which left OPEC on May 1. However, these increases are expected to have limited actual impact while the war continues to disrupt Gulf oil supplies.

U.S. President Donald Trump may soon face pressure to decide on restricting American crude oil exports, which recently hit record levels. If continued, this trend could drive up prices for gasoline, diesel, and other petroleum products for U.S. consumers.

Countries worldwide are racing to secure oil supplies that have dropped sharply due to Iran closing the Strait of Hormuz to tankers from "hostile nations," including major producers like Kuwait, Saudi Arabia, and the United Arab Emirates. Simultaneously, the U.S. Navy has imposed a blockade on Iranian ships exiting ports through the Strait, though its effectiveness remains a subject of debate.

In a televised speech on April 1, Trump stated: "To the countries that can't get fuel—many of whom refused to participate in the operation to topple the Iranian regime, forcing us to do it ourselves—I have a proposal: First, buy your oil from the United States of America; we have plenty."

The United States is the world's largest crude oil producer, reaching 13.6 million barrels per day (bpd) as of February, compared to Russia in second place at 9.9 million bpd. The U.S. is also the largest consumer, refining 21.1 million bpd of finished petroleum products as of late April.

This figure includes approximately 2 million bpd of natural gas liquids, which are not a direct part of traditional crude oil refining. Subtracting this leaves about 19.1 million bpd against a domestic production of 13.6 million bpd. This explains the continued U.S. reliance on crude imports, with the gap filled by oil imports and "refining gain"—the increase in product volume after the refining process.

According to U.S. Energy Information Administration (EIA) estimates, refining gain accounts for about 6.3% of total refinery input, or roughly 1.2 million bpd.

While a portion of U.S. refinery products like gasoline, diesel, and jet fuel is exported, domestic consumption remains the largest segment. Releases from the Strategic Petroleum Reserve (SPR) temporarily turned the U.S. into a net exporter of crude oil, but this was primarily driven by the re-export of some of these supplies.

However, these supplies are not unlimited, and there are engineering and legal constraints on SPR storage levels, meaning this policy cannot be sustained indefinitely.

U.S. laws allow oil companies to sell products freely on global markets, leading tankers to U.S. ports to ship oil to Asia, where prices can be significantly higher. This price differential exerts additional upward pressure on domestic U.S. prices, raising political questions about whether exports should be restricted to maintain internal price stability.

This issue extends beyond oil; the U.S. is also the world's largest exporter of liquefied natural gas (LNG), creating a similar effect where domestic prices are tethered to global markets.

Energy markets have faced massive disruption due to the war with Iran and the closure of the Strait of Hormuz, sparking a global race to secure supplies. Some nations, such as China and Thailand, have resorted to precautionary stockpiling. This raises questions about whether other countries, including the United States, might restrict exports if the crisis persists, especially amid mounting economic pressure and market instability.

The Financial Times reported that the "Big Three"—General Motors, Ford, and Stellantis—revealed in their first-quarter results that rising raw material costs this year could add a burden of up to $5 billion (approximately 7.38 trillion won).

This increase is attributed to escalating tensions around the Strait of Hormuz amid the fallout of the Middle East conflict, which has disrupted global shipping and supply chains, driving up the prices of key materials such as aluminum, plastics, and paints.

Jump in aluminum prices

Aluminum prices on the London Metal Exchange (LME) have surged by as much as 16% since the outbreak of the war. The report noted that if this rise persists, it could add between $500 and $1,500 to the manufacturing cost of every vehicle. Aluminum is a fundamental material in the automotive industry, used extensively in chassis, engines, and doors.

Direct impact on corporate profits

The effects of these pressures are already appearing in corporate earnings:

*   General Motors expects its operating profit to decrease by up to $2 billion this year due to inflated raw material costs. CEO Mary Barra stated, "Costs have risen due to the war, and it remains unclear how long this situation will last," adding that the company is attempting to absorb the shock by cutting other expenses.

*   Ford anticipates supply chain costs to increase by up to $2 billion.

*   Stellantis warned of a future burden of approximately 1 billion euros.

The total raw material cost shock to the sector is estimated at $5 billion, a level close to the losses resulting from high U.S. tariffs (approximately $6 billion).

Risks of a prolonged crisis

The primary concern is the potential for a long-term crisis. While fixed-price contracts with suppliers have helped absorb some of the short-term shock, a prolonged conflict would likely see raw material price increases reflected entirely in production costs. Additionally, suppliers are increasingly expected to seek price renegotiations.

Additional pressure from energy and chips

Beyond aluminum, high oil prices and a shortage of naphtha—a feedstock for plastic production—are major pressing factors. Price pressures are mounting on automotive components such as plastics, tires, and interior materials. Furthermore, as semiconductor companies focus on high-performance AI chips rather than automotive chips, the price of memory (DRAM) is rising, further straining costs.

Potential implications for consumers

Industry observers believe these developments will eventually lead to higher car prices for consumers. Experts noted, "If the war continues for a long time, price hikes will be inevitable," adding that "if companies raise prices simultaneously, they may maintain their market share, but the burden on consumers will increase significantly."

Bitcoin opened Monday's trading at $78,543.43, down 0.1% compared to Sunday's opening price of $78,656.73. By 7:30 a.m. ET, the price climbed to $78,951.96.

Ethereum opened at $2,322.49, up 0.3% from Sunday's opening of $2,316.21, and stabilized at $2,336.98 by the same time this morning.

Bitcoin experienced a brief surge past the $80,000 level before settling back into the $78,000 range, a zone it has maintained for some time. The currency has not consistently broken above this level since January 31.

Strong Monthly Performance Despite Volatility

Bitcoin has risen more than 17% over the past month, while Ethereum climbed more than 13% during the same period. Both assets have shown resilience during the ongoing conflict between the United States and Iran.

As crypto-related legislation advances toward the U.S. Senate and the potential for de-escalation in the Middle East looms, investor appetite is expected to continue supporting digital asset prices in the coming weeks and months.

Bitcoin Performance

The price this morning showed a slight 0.1% dip compared to Sunday's open. Here is a look at its performance over various periods:

* One week ago: -0.01%

* One month ago: +17.3%

* One year ago: -18.1%

Bitcoin hit its all-time high of $126,198.07 on October 6, 2025, while its historical low was $0.04865 on July 14, 2010.

Ethereum Performance

The price rose 0.3% compared to Sunday's open. Here is its performance:

* One week ago: -2%

* One month ago: +13.1%

* One year ago: +26.7%

Ethereum reached its all-time high of $4,953.73 on August 24, 2025, and its historical low of $0.4209 on October 21, 2015.

How Bitcoin Works

Bitcoin is a type of cryptocurrency—a digital currency that exists only in electronic form and operates without government or bank oversight. Unlike traditional currencies like the U.S. Dollar or the Euro, Bitcoin has no physical version and is not issued by any official authority.

It relies on a public digital ledger used to verify transactions and record ownership, known as the Blockchain. This system is globally distributed and decentralized, running across a vast network of servers worldwide.

Decentralization is a core element of cryptocurrencies, allowing for direct peer-to-peer transactions without a banking intermediary, which enhances security and reduces the potential for manipulation.

How to Buy Bitcoin in 2026

There are several ways to purchase Bitcoin, including cryptocurrency exchanges, fintech apps, or traditional brokerage firms that offer exposure through Bitcoin Exchange-Traded Funds (ETFs).

Before buying, you should determine your goal: do you want to physically own the currency with your own private keys, or do you prefer price exposure within a regulated and easy-to-use system?

Regardless of the method, it is important to remember that Bitcoin remains a high-risk and highly volatile asset compared to many other investments. Prices can rise or fall rapidly, often without warning.

Price charts for Bitcoin and Ethereum provide a visual look at how their value has evolved over time for both new and experienced investors, clearly illustrating the nature of these digital assets.