Global oil prices showed minimal movement Monday as traders positioned ahead of critical US-Iran diplomatic talks scheduled for Tuesday. The market's muted reaction reflected uncertainty about potential outcomes from negotiations that could impact Middle East oil supplies. Crude futures remained stable despite underlying tensions in the region that could disrupt energy markets.

Markets closely monitor geopolitical risk factors surrounding the nuclear discussions, as any breakdown in talks could threaten oil supply routes through the Strait of Hormuz. Traders weigh the potential for either diplomatic breakthroughs or renewed sanctions that would affect global oil flows. The talks represent a pivotal moment in energy security discussions with significant implications for oil markets.

Energy companies and investors remain cautious, with many adopting wait-and-see approaches until the diplomatic situation clarifies. Market participants have reduced speculative positions in crude oil, preferring to assess the actual impact of negotiations before making significant moves. Oil volatility typically spikes during diplomatic flashpoints in oil-producing regions, creating both risks and opportunities for traders.