BEIJING, June 1 (Reuters) – Oil prices rose more than 2% in early trading on Monday after Israel ordered troops to move further into Lebanon in the battle with the Iranian-backed Hezbollah militant group, despite a ceasefire announced more than six weeks ago. U.S. crude futures rose $2.37 or 2.71% to $89.73 a barrel as […]
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Oil prices rise more than 2% as Israel moves further into Lebanon
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BEIJING, June 1 (Reuters) – Oil prices rose more than 2% in early trading on Monday after Israel ordered troops to move further into Lebanon in the battle with the Iranian-backed Hezbollah militant group, despite a ceasefire announced more than six weeks ago.
U.S. crude futures rose $2.37 or 2.71% to $89.73 a barrel as of 1017 GMT. Brent futures rose $2.07 or 2.27% to $93.19 a barrel.
Brent and WTI had fallen 1.8% and 1.7%, respectively, on Friday on expectations that the U.S. and Iran had reached a ceasefire agreement.
(Reporting by Colleen Howe; Editing by Edmund Klamann)