Oil prices experienced a significant uptick on Monday, with Brent crude futures climbing over 3% to reach $111.81 per barrel, following Iran's assertion that it had attacked a U.S. warship. This development comes amid heightened geopolitical tensions in the region, which have historically influenced oil market dynamics. However, the U.S. government has refuted these claims, stating that no ships were struck, which has injected some uncertainty into the market. Despite the denial, the initial reaction from traders reflected a bullish sentiment, likely driven by fears of potential disruptions in oil supply routes. The rise in oil prices also coincides with a broader market backdrop characterized by extreme greed, as investors remain sensitive to news that could impact energy prices. As the situation unfolds, market participants will be closely monitoring further developments and any implications for global oil supply and pricing.