Brent climbs on Van’s ceasefire warning

Oil prices rose after U.S. Vice President J.D. Vance warned of the possibility of escalating Israeli attacks against Iran-backed Hezbollah in Lebanon, fueling doubts about the stability of the ceasefire agreement between the United States and Iran. Brent crude increased by 30 cents to reach $79.85 per barrel, while West Texas Intermediate crude fell to $76.60. Meanwhile, the market is closely monitoring the future of flows through the Hormuz Strait and the prospects of oil exports returning to pre-war levels.

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