Global crude oil prices rise over 2% amid Israel-Lebanon tensions

By  News On Air   Jun 01, 2026

Global crude oil prices rose more than two percent in early trading today 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.

US crude futures rose 2.37 US Dollar or ‌2.71 percent to 89.73 US Dollar a barrel while Brent futures rose 2.16 US Dollar or 2.37 percent to 93.28 US Dollar a barrel when reports last came in.