U.S., Iran, missile, Middle East, Israel, OPEC
Four soldiers are climbing a wall and ready to fight.
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Oil prices rose on Monday amid rising tensions in the Middle East, with Iran and Israel exchanging attacks and rising concerns about a fragile ceasefire and a protracted conflict.
International comparison Brent crude oil July futures contracts rose 3.18% to $96.05 per barrel. WE West Texas Intermediate Futures It increased by 3.46% to $93.67 per barrel in August.
Israeli Air Force hits military targets local time on Monday in western and central Iran, the Israel Defense Forces said in a post on channel X.
According to the White House’s statement to MS NOW, President Donald Trump was informed after Israel was hit by an Iranian missile for the first time since the ceasefire began. Missile strikes “certainly will not help negotiations.” Trump told Fox News Sunday.
An Iranian official who participated in the talks between Tehran and Washington told MS NOW that “an agreement with President Trump is no longer possible at this stage.”
One Publish on XIranian Parliament Speaker MB Ghalibaf said that the US’s “naval blockade of Lebanon and violation of agreements” would mean a violation of the ceasefire. The official added that US and regime bases and assets in the region are now “legitimate targets” due to the current US blockade and military action in Lebanon.
Meanwhile, OPEC+ agreed to increase targets by 188,000 barrels per day from July, according to the OPEC statement, marking the fourth oil production quota increase approval since the closure of the Strait of Hormuz. This increase is on par with June, which fell from monthly increases of 206,000 barrels in May and April due to the UAE’s departure from the organization.
—CNBC’s Garrett Downs contributed to the report.
