International oil prices have risen due to heightened political uncertainty in the Middle East following the death of Iran's President Ibrahim Raisi in a helicopter crash and the cancellation of Saudi Crown Prince Mohammed bin Salman's visit to Japan.

On Monday, the price of Brent crude oil increased by 32 cents to $84.30 per barrel. Similarly, the price of WTI crude rose by 5 cents, reaching $80.11 per barrel.

Death of Iran's President: Iran's President Ibrahim Raisi died in a helicopter crash on Sunday while returning from a visit to Azerbaijan. The mysterious circumstances of the crash have raised concerns about stability in the region.

Cancellation of Saudi Crown Prince's Visit: Saudi Crown Prince Mohammed bin Salman was scheduled to visit Japan on Monday. However, he canceled his trip due to concerns over the health of King Salman bin Abdulaziz.

These events have contributed to increased fears of political instability in the Middle East, a region crucial to global oil supply. Analysts suggest that the uncertainty could drive oil prices even higher in the coming days.

The combined effect of the unexpected death of a key regional leader and the potential health crisis within Saudi Arabia's leadership has led to a destabilized oil market, with traders bracing for further price increases as the situation develops.