Oil prices rose after President Trump, arriving in New York for the meeting of the United Nations General Assembly, said he intended to seek support for a coalition to confront Iran after the U.S. blamed it for last week’s strike on a Saudi Arabian oil facility.
There are also doubts over how fast Saudi Arabia can get back to full output after last weekend’s attack, according to Reuters.
Oil prices rose as high 1 percent to start the week.
U.S. crude oil added 43 cents to $58.53 a barrel, while Brent crude, the international standard, picked up 34 cents to $64.62 per barrel.
Iran’s president on Sunday urged Western powers to leave the security of the Persian Gulf to regional nations led by Tehran.
He criticized a new U.S.-led coalition patrolling the region’s waterways as nationwide parades showcased the Islamic Republic’s military arsenal.
Hassan Rouhani also promised to propose a regional peace plan at this week’s UN meetings.
The U.S. alleges Iran carried out the Sept. 14 attack on Saudi Aramco’s largest oil processor, which caused oil prices to spike by the biggest percentage since the 1991 Gulf War.
While Yemen’s Iranian-allied Houthi rebels claimed the assault, Saudi Arabia says it was “unquestionably sponsored by Iran.”