Oil prices rose due to the halt of peace talks between the US and Iran, reports Todayinfo news agency.
Brent crude oil rose more than 2% on Sunday. Hopes for a second ceasefire negotiation between Washington and Tehran were dashed on Tuesday.
After some decline, Brent, the global benchmark, stood at $106.99 at 1:30 GMT. Asian stock markets opened higher on Monday, with Japan's Nikkei 225 up 0.9% and South Korea's KOSPI up 1.5%.
US President Donald Trump on Saturday canceled a planned visit of his envoys Steve Witkoff and Jared Kushner to Pakistan, as Iranian Foreign Minister Abbas Araghchi left Islamabad before direct contact between the parties was established.
Araghchi arrived in Moscow on Monday for meetings with Russian President Vladimir Putin and other officials, as Tehran seeks a way out of the diplomatic impasse.
Araghchi's visit, following his brief trip to Oman, casts uncertainty over the fragile ceasefire agreement between Washington and Tehran. Trump last week extended a two-week truce but did not set a deadline for reaching a deal to end the war.
As US-Iran talks hit a deadlock, Tehran's threat to commercial vessels in the Strait of Hormuz halted a large portion of global oil and gas supplies. On Saturday, 19 commercial ships passed through the strait, which normally carries one-fifth of the world's oil and gas.
