Oil prices rise by more than 2% following increased fighting around Lebanon. Multiple outlets link the move in crude futures to reports that Israel orders troops to move further into southern Lebanon amid clashes with Hezbollah, including an escalation described as intensifying operations. Market participants treat the development as a sign of heightened regional risk that could disrupt global energy supply. The Hindu and other reports cite gains in both U.S. and Brent crude futures early in trading: U.S. crude futures rise by about $2 or more and Brent is higher by roughly $2-plus per barrel, reflecting a move of around 2% to 3%. Times of India adds that the escalation revives concerns about the outlook for a US-Iran ceasefire extension and broader regional stability, while also pointing to complications around shipping in the Strait of Hormuz from mines that affect efforts to restore traffic. Overall, the sources agree that the geopolitical escalation involving Israel and Hezbollah is driving the increase in crude prices in early trading.
Oil prices rise over 2% after Israel steps up operations in Lebanon
Oil prices rise by more than 2% following increased fighting around Lebanon. Multiple outlets link the move in crude futures to reports that Israel orders troops to move further into southern Lebanon...
- Crude oil prices rise more than 2% after Israel steps up operations in Lebanon.
- Reports say Israel orders troop deployments or further movement into southern Lebanon against Hezbollah.
- U.S. crude futures rise by around $2 or more per barrel in early trading, around 2% to 3%.
- Brent crude futures also increase by about $2+ per barrel in the same period.
- Some coverage highlights renewed concerns over broader regional stability and potential supply/shipping disruptions.
U.S. crude futures were up $2.10, or 2.32%, at $92.64 per barrel as of 0013 GMT, while Brent crude futures rose $2.33, or 2.5%, to $95.42 a barrel
2 months agoOil prices surged over 2% as Israel ordered troop deployments into southern Lebanon, escalating tensions with Hezbollah. This renewed fighting raises concerns for a US-Iran ceasefire extension and regional stability, impacting global energy supply outlooks. Mines in the Strait of Hormuz further complicate efforts to restore shipping traffic.
2 months agoIsrael ordered troops to move further into Lebanon in the battle with the Iranian-backed Hezbollah militant group
2 months agoUS crude futures rose $2.37 or 2.71 per cent to $89.73 a barrel as of 0028 GMT
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