Oil Prices Rise as Israel Expands Lebanon Offensive and U.S. Strikes Iran

Oil prices climbed in early Asian trading on Monday as Israeli troops moved further into Lebanon over the weekend and the U. S. hit targets in Iran, adding fuel to fears that the broader Middle East conflict is moving toward escalation rather than a peace deal.

At the time of writing, West Texas Intermediate crude was up 3. 27% at $90. 22 per barrel, while Brent crude had risen 3. 36% to trade at $94. 18 per barrel. The U. S. strikes on Iran were confirmed by U. S.