pakistan
Oil prices climb more than $3 after Israeli strikes on Lebanon
Key takeaways
- Sounds of blasts were heard – in Tehran, Tabriz and Isfahan, local media reported early on Monday, eroding hopes for an imminent end to the wider war and a restart to crude flows through the Strait of Hormuz.
- Brent crude futures rose $3.20 or 3.39% to $96.24 a barrel while U.S. crude futures were up $2.87 or 3.17% at $93.41 per barrel as of 0333 GMT.
- Those gains erased Friday’s losses, when prices fell on hopes of a de-escalation in the U.S.-Iran conflict, which has seen oil prices rise over 50% since March.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize Brent oil prices jumped more than $3 a barrel on Monday, initially spooked by Israel’s launch of renewed strikes on Lebanon a day earlier, but also gaining further steam after sounds of explosions were heard in Iran.
Sounds of blasts were heard – in Tehran, Tabriz and Isfahan, local media reported early on Monday, eroding hopes for an imminent end to the wider war and a restart to crude flows through the Strait of Hormuz.
Brent crude futures rose $3.20 or 3.39% to $96.24 a barrel while U.S. crude futures were up $2.87 or 3.17% at $93.41 per barrel as of 0333 GMT.
Article preview — originally published by ARY News. Full story at the source.
Read full story on ARY News →
More top stories
Also covered by
The Hindu
Oil prices rise more than $2 on Israel strikes on Lebanon
Investing.com
Oil prices rise more than $2 on Israel strikes on Lebanon
Fortune
Iran fires missiles at Israel in first such bombardment since ceasefire as Trump says ‘I’m not happy about’ Israeli strikes on Lebanon
Pakistan Observer
Oil prices climb above $96 per barrel as ME tensions intensify
Aggregated and edited by the Scoop newsroom. We surface news from ARY News alongside other reporting so you can compare coverage in one place.
Editorial policy · Corrections · About Scoop