Oil prices rise as Lebanon fighting erupts and Hormuz traffic still slow
Key takeaways
- Brent crude reverses slide after oil, LNG tankers cross critical waterway.
- It comes after Israel launched a series of attacks on Lebanon, killing 16 people and threatening the ceasefire agreement between the US and Iran.
- Clashes between Israel and Hezbollah forces in southern Israel on Friday killed four Israeli soldiers, according to Israeli media.
Why this matters: an international story with cross-border implications worth tracking.
Brent crude reverses slide after oil, LNG tankers cross critical waterway.
xwhatsapp-strokecopylinkgoogle Add Al Jazeera on Googleinfo Tankers and cargo vessels are seen in the Gulf of Oman, along shipping routes linking the Strait of Hormuz and the Arabian Sea, on June 16, 2026 [AP]By John Power Published On 19 Jun 202619 Jun 2026Oil prices have begun rising again as an agreement between the United States and Iran hangs in the balance.
Brent crude, the international benchmark, rose 0.65 percent on Friday, after falling as much as 0.9 percent earlier in the day, as traders continued to weigh the practical effect of the US-Iran memorandum of understanding on ending their war and reopening the Strait of Hormuz.