Brent crude oil prices have risen by over 1% due to mixed signals about the Iran war, with President Trump threatening to bomb Iran's power plants and bridges if the regime doesn't open the Strait of Hormuz. Iran has reportedly exempts Iraq from restrictions and a tanker carrying the nations' crude reportedly has reportedly arrived in the waterway. Meanwhile, eight OPEC+ countries have agreed to increase their overall production target by 206,000 barrels in May, but it is unclear when most of these barrels might reach the market as long as the Strait remains closed. The weekend also saw signs of escalation, with reports of drone strikes hitting oil-related sites in Kuwait and Bahrain.