Oil prices rise as U.S., Iran trade strikes, Israel moves further into Lebanon

Oil prices rose more than 3% after Iran and the U.S. traded strikes, while Israel ordered troops further into Lebanon in its fight with Tehran-backed Hezbollah. The escalation increases near-term geopolitical risk to Middle East energy supply routes and supports crude prices. The move is likely to ripple across energy and broader risk assets.

Analysis

Oil prices rose more than 3% after Iran and the U.S. traded strikes, while Israel ordered troops further into Lebanon in its fight with Tehran-backed Hezbollah. The escalation increases near-term geopolitical risk to Middle East energy supply routes and supports crude prices. The move is likely to ripple across energy and broader risk assets.