Oil prices rise as Israel moves further into Lebanon
Brent and U.S. crude futures rose more than 2 percent early Monday following reports of Israeli troop movements in Lebanon. Brent reached 93.19 dollars a barrel as geopolitical tensions offset previous market expectations of a ceasefire agreement.
Brent Crude Oil rose 2.27% to $93.19 a barrel during Monday morning trading as geopolitical tensions escalated in the Middle East. The price surge follows an order for Israel troops to advance further into Lebanon to combat Hezbollah forces. This military escalation reverses a brief price decline triggered by previous hopes for regional stability.
### Middle East Conflict Disrupts Market Expectations The renewed offensive comes despite a ceasefire announced more than six weeks ago. West Texas Oil futures climbed $2.37, or 2.71%, to reach $89.73 a barrel by midday. Investors are reassessing risk premiums as the conflict involves the Iranian-backed militant group, potentially drawing Iran deeper into the confrontation.
