Crude oil prices pared gains on Monday following a volatile trading session. Brent crude initially surged over 5% to top $98 a barrel. Israel and Iran exchanged military strikes, fueling fears of global energy supply disruptions. Prices reversed after Iran’s military announced a halt to attacks. This de-escalation followed a similar move by Israel and an appeal from the U.S. President. Brent futures settled near $94.50 a barrel. West Texas Intermediate (WTI) finished the session around $91.70.