Oil prices rose on Monday as fading expectations of a U.S.-Iran peace breakthrough and slower tanker traffic through the Strait of Hormuz reinforced geopolitical risk concerns in the market.

Oil prices were mixed in early trade, but may be buoyed amid a deadlock in U.S.-Iran talks to reopen the Strait of Hormuz, a key waterway through which one-fifth of the world’s oil is transported.

Oil held in early trade on Monday as traffic through the Strait of Hormuz slowed over the weekend with no U.S.-Iran peace deal in sight to end the conflict.

Oil prices were little changed in early Monday trading as shipping activity through the Strait of Hormuz slowed sharply over the weekend, while the ongoing conflict between the United States and Iran showed no signs

Japan’s economy managed to notch a third straight quarter of growth, but weaker spending slowed the pace of expansion, potentially complicating matters for the central bank.

Japan’s economy grew an annualized rate of 1.1% in the April-June quarter, even as private consumption stayed flat and the growth of exports declined

Japan's second-quarter GDP grew 0.3% compared to the last quarter. On a year-on-year basis, the country's economy expanded 0.7%, up from 0.5% in the first quarter. Japan's economy expanded 1.1% in the second quarter on an annualized basis,

Japan's economy grew 1.1% in Q2, marking a second consecutive quarter of expansion but missing forecasts. Growth was hit by weak business investment and household spending, linked to the fallout from the West Asia conflict.

US retail sales fell in July by the most in more than a year as consumers pulled back on purchases at online stores and auto dealers.

After splurging on the World Cup and Amazon Prime Day sales, Americans unexpectedly cut their spending in July by the biggest amount in more than a year.

Retail sales fell more than 0.5% last month as the American economy feels the impact of soaring gas prices and the blockade in the Strait of Hormuz. Reporter Jonathan Hunt has more, from Tel Aviv.

After splurging on the World Cup and Amazon Prime Day sales, Americans unexpectedly cut their spending in July by the biggest amount in more than a year. Retail sales fell 0.6% last month, marking the biggest decrease since May 2025,