Oil opens week with 2% gain
Oil prices rose by more than 2% at the start of the week, after Israel ordered its forces to expand their incursion into Lebanon amid escalating tensions with Iran-backed Hezbollah, despite the ceasefire announced over six weeks ago. U.S. crude futures reached $89.53 per barrel, while Brent crude traded at $93.05, amid rising tensions in the Middle East that have dampened expectations of an extension to the ceasefire between the United States and Iran. These developments come amidst ongoing regional conflicts and disputes that continue to impact the global oil market.
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