Oil prices rose more than 3% on Monday after Iran and the U.S. traded strikes and Israel ordered troops to move further into Lebanon in its battle with Tehran-backed Hezbollah.U.S. crude futures
Oil prices rose more than 3% on Monday after Iran and the U.S. traded strikes and Israel ordered troops to move further into Lebanon in its battle with Tehran-backed Hezbollah.
U.S. crude futures CLc1 rose $2.88 or 3.3% to $90.24 a barrel as of 0701 GMT. Brent LCOc1 futures rose $2.78 or 3.05% to $93.9 a barrel.
The fighting, after Washington hosted Israel-Lebanon peace talks on Friday, dimmed hopes that the U.S. and Iran could soon announce an extension to their ceasefire, which had driven Brent and WTI to settle down 1.8% and 1.7%, respectively, on Friday.
The U.S. said on Sunday it conducted "self-defence strikes" on radar and drone control sites in Iran's Goruk and Qeshm Island over the weekend in what it said was a response to "aggressive" actions by Tehran.
Iran's elite Islamic Revolutionary Guard Corps said on Monday its aerospace force targeted an air base used in what it called a U.S. attack on a telecoms tower on Sirik Island.
U.S. President Donald Trump said on Friday he would soon decide on a proposed deal to extend a ceasefire announced in early April, giving negotiators more time to seek a permanent end to the war and
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