Crude oil prices largely held their advance on Monday as traders absorbed the news that Iran's top security chief was killed in a further escalation of the Middle East conflict. Iran confirmed the death of Major General Qassem Soleimani, a figure central to Tehran's regional influence, in an attack that also targeted a prominent Iraqi militia leader. This development intensified geopolitical tensions, keeping energy markets on edge. Global oil benchmarks like Brent and WTI showed resilience, with Brent futures rising about 1.5% to $70.50 per barrel. Traders cited concerns over potential supply disruptions from Iran's retaliation, though immediate pipeline shutdowns were not reported.

The conflict's persistence underscores the vulnerability of energy markets to Middle East instability, with analysts noting the attack could prolong oil price volatility.