The price of Brent crude, the European benchmark, rose more than 2% by 08:22 and was trading above 105 dollars before the opening of European stock markets. Brent prices briefly exceeded 106 dollars at the market opening this Monday, the 16th, but later moderated to 105 dollars. European markets are pointing towards mixed openings today, with slight declines in Madrid and London, and gains of up to 0.4% in Frankfurt, Paris, and Milan. Meanwhile, the price of West Texas Intermediate (WTI) crude, the American benchmark, rose 1.7% to 98.57 dollars per barrel. US President Donald Trump warned on Sunday that NATO faces a 'very bad future' if allies do not cooperate to reopen the Strait of Hormuz, a strategic waterway for international oil trade blocked by Iranian forces. The International Energy Agency (IEA) decided last week to release 400 million barrels from its strategic reserves to help ease oil price tensions. Crude prices remain volatile due to expectations of a prolonged oil war and ongoing issues in the Strait of Hormuz, where several tankers have been attacked.