Wall Street stocks opened higher on Monday after U.S. president Donald Trump pointed to progress in talks with Iran—even as he threatened to strike key oil facilities and power infrastructure.

Brent North Sea crude rose 2.2% to $115.02 per barrel in morning trading, while U.S. benchmark West Texas Intermediate climbed 1.7% to $101.35.

All three major U.S. indices also moved higher at the open. Around ten minutes into trading, the Nasdaq Composite was up 0.8% at 21,124.23, the Dow Jones Industrial Average gained 0.9% to 45,566.69, and the S&P 500 rose 0.9% to 6,426.20.

Investors are closely tracking developments in the conflict, which continues to drive volatility in energy markets. Despite Trump’s claims of diplomatic progress, Tehran has pushed back on the prospect of imminent talks, while fighting in the region shows no sign of easing.

U.S.-Israeli strikes have continued, Iran has targeted U.S. allies in the Gulf, and Israeli operations in Lebanon have expanded—keeping the broader region on edge.

Art Hogan of B. Riley Wealth Management said markets were reacting to any sign of de-escalation.

“The market’s going to wake up every day and try to figure out where we are in the war with Iran and what that means for energy prices,” Hogan said.

He added that even tentative signs of progress in negotiations would likely be welcomed by investors.

“If in fact, the president’s announcement on Truth Social can be even taken a little bit seriously about negotiations going well, then the market would celebrate that.”

Hogan also noted that markets had become “oversold” after recent losses and were therefore “very susceptible to any good news,” particularly relating to the conflict.

Monday’s gains followed a difficult week for equities. The S&P 500 closed lower for the fifth consecutive week—its longest losing streak in four years.