Oil prices soar due to geopolitical anxieties.

Oil prices soared on Monday, bolstered by geopolitical uncertainties in the U.S. and the Middle East. The failed assassination attempt on Donald Trump created anxiety in the market and heightened geopolitical risks. Added to this is the failure of talks on the Gaza conflict amid Israeli attacks. Oil demand in China is weak, though. But OPEC has managed to cut supply and ensure prices rise.