Oil prices were up more than $2 a barrel on Monday (June 8, 2026) after Israel on Sunday (June 7) launched renewed strikes on Lebanon despite a truce between the two countries, eroding hopes for an end to the wider war and a restart to crude flows through the Strait of Hormuz.
U.S. crude futures were up $2.10, or 2.32%, at $92.64 per barrel as of 0013 GMT, while Brent crude futures rose $2.33, or 2.5%, to $95.42 a barrel.
That erased most of the losses from Friday (June 5), when prices had fallen on mounting hopes of a de-escalation in the U.S.-Iran conflict, which started with U.S. and Israel strikes on Iran in February.
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Oil prices rise more than $2 on Israel strikes on Lebanon
Oil prices surge over $2 following Israel’s strikes on Lebanon, jeopardizing hopes for peace and crude flow stability.
