Brent crude futures pared earlier losses to settle 0.8% higher at $63.8 per barrel on Monday, supported by geopolitical tensions in Iran and potential disruptions to its roughly 3.3 million barrels-per-day output. Nationwide protests have posed one of the biggest challenges to the clerical government in years, prompting US President Donald Trump to consider “strong options” as the US monitors the situation. While Iranian authorities claim calm has been restored, the risk of strikes by oil workers or attacks on regional energy infrastructure keeps volatility elevated. Concerns over supply have offset expectations of increased output from Venezuela, which is preparing to resume exports after political changes in Caracas. Additional risks stem from Russia and Azerbaijan, where disruptions and sanctions could affect OPEC+ flows.