The Iranian mediator proposed a plan to ease the tense situation, causing oil prices to retrace their gains.

After mediators in Iran proposed a plan to ease tensions in Lebanon and the Strait of Hormuz, oil prices gave back earlier gains. The mediators stated that Iran and the United States have agreed to establish a mechanism to ensure the termination of military actions in Lebanon. Previously, US President Trump had threatened Iran on social media on Sunday for supporting the Lebanese faction Hezbollah, and the two mediators of the talks, Pakistan and Qatar, later issued the statement. Analysts at Risingsun International stated in a report: "We expect the futures market to eliminate risk premiums, while the spot energy market will lag behind in returning to normal." Near-month WTI crude oil futures fell 0.2% to $76.75 per barrel; Brent crude oil futures fell 1.9% to $79.03 per barrel.