SOMO’s Ali Nizar Fayeq al-Shatari said the plan for fully reactivating the Ceyhan oil pipeline follows the disruption of the Strait of Hormuz, aiming to bring daily export levels through Turkey to 750,000 barrels. 

Asian stock markets advanced on Monday after oil prices dropped sharply, as the United States and Iran refrained from further military strikes while discussions continued over a possible return to negotiations on an interim ceasefire agreement.

Gold prices climbed above $4,092 per ounce on Monday, reaching a record high as easing Middle East tensions, lower oil prices, and sustained central bank demand reinforced the precious metal's appeal as a safe-haven asset.

The Iraqi dinar has recorded notable gains against the U.S. dollar, while the Iranian toman continues to lose value due to escalating conflict conditions. Market analysts anticipate further volatility in both currencies.

Asian stock markets traded mostly higher on Thursday despite renewed pressure from rising oil prices, as escalating conflict involving Iran pushed Brent crude to $98 per barrel. Investors also continued to monitor corporate earnings and inflation risks linked to higher energy costs.

European Union states on Thursday approved a diluted new round of sanctions against Russia over the war in Ukraine, agreeing to freeze the level of the bloc’s oil price cap after weeks of internal wrangling.