General · 1 June 2026
Oil jumps 2% as Lebanon fighting defies ceasefire
Higher fuel costs could follow if oil supplies stay tight across key shipping routes. On Monday, crude prices climbed more than 2% after Israel ordered troops deeper into Lebanon to fight Hezbollah, despite a ceasefire announced over six weeks earlier. US crude reached $89.73 a barrel and Brent hit $93.19, while Friday’s hopes of a US-Iran ceasefire extension faded after Washington hosted talks.
Reported by Reuters · How we write briefs