{"id":1336,"date":"2026-06-08T04:39:37","date_gmt":"2026-06-08T04:39:37","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=1336"},"modified":"2026-06-08T04:39:37","modified_gmt":"2026-06-08T04:39:37","slug":"oil-prices-climb-more-than-3-after-israeli-strikes-on-lebanon","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=1336","title":{"rendered":"Oil prices climb more than $3 after Israeli strikes on Lebanon"},"content":{"rendered":"<div>\n<div>\n<div>\n<ul>\n<li>Summary<\/li>\n<\/ul>\n<\/div>\n<div><\/div>\n<\/div>\n<div>PERTH\/ BEIJING, June 8 (Reuters) &#8211; Brent oil prices jumped more than $3 a \u200cbarrel on Monday, initially spooked by Israel&#8217;s launch of renewed strikes on Lebanon a day earlier, but also gaining further steam after sounds of explosions were heard in Iran.<\/div>\n<div>Sounds of blasts were heard &#8211; in Tehran, Tabriz and Isfahan, local media reported early on \u200bMonday, eroding hopes for an imminent end to the wider war and a restart to crude \u200bflows through the Strait of Hormuz.<\/div>\n<div>Brent crude futures rose $3.20 or 3.39% to $96.24 a barrel \u2060while U.S. crude futures were up $2.87 or 3.17% at $93.41 per barrel as of 0333 GMT.<\/div>\n<div>Those gains erased \u200bFriday&#8217;s losses, when prices fell on hopes of a de-escalation in the U.S.-Iran conflict, which has seen oil prices \u200brise over 50% since March.<\/div>\n<div>Though Iran on Sunday fired a salvo of missiles at Israeli targets in retaliation, U.S. President Donald Trump insisted that an agreement to end the wider war remains well within reach.<\/div>\n<div>Trump also reportedly told Israeli Prime Minister \u200bBenjamin Netanyahu to refrain from further attacks.<\/div>\n<div>&#8220;It\u2019s not going to have any impact on the deal,&#8221; Trump told \u200bthe Financial Times. &#8220;I call the shots. I call all the shots. He doesn\u2019t call the shots.&#8221;<\/div>\n<div>Iran has made a ceasefire with \u200cLebanon a \u2060condition for a peace deal with Washington.<\/div>\n<div>Israel invaded Lebanon in March after Iran-backed Hezbollah fired rockets and drones across the border. Lebanon and Israel said on June 3 that they had agreed to a ceasefire following negotiations in Washington.<\/div>\n<div>The two countries had previously agreed to a cessation of hostilities in April but violence continued.<\/div>\n<div>The wider \u200bwar has been stalemated \u200bsince the U.S. and \u2060Israel paused their attacks on Iran in early April, with Tehran blocking most shipping through the Strait of Hormuz, the main transit route for one-fifth of the \u200bworld&#8217;s oil. Washington has imposed its own blockade of Iranian ports.<\/div>\n<div>Amid the resulting \u200bsupply crisis, OPEC+ on \u2060Sunday agreed its fourth increase in oil output in four months. But analysts said the decision would have little impact since most OPEC+ members could not meet their output targets because of the Hormuz closure or, in \u2060the case \u200bof Russia, infrastructure attacks that have eroded its production capacity.<\/div>\n<div>&#8220;In \u200bthe current market, the physical impact of such a decision would be close to zero,&#8221; Rystad Energy&#8217;s head of geopolitical analysis, Jorge Leon, \u200bsaid in a note to clients.<\/div>\n<\/div>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1334\">Israel hits Iran with new strikes despite Trump admonition<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1327\">UK firms pause hiring as Iran war stings, REC survey shows<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1325\">Armenia\u2019s Pashinyan declares victory in parliamentary election, vote counting continues<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. crude futures were \u200bup $2.57 \u200bat $93.11 \u2060per barrel. <\/p>\n","protected":false},"author":1,"featured_media":1335,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[21,46,29],"class_list":["post-1336","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-energy","tag-fuel-oil","tag-transport-fuels"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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