Brent crude holds near $89 as Lebanon conflict affects shipping
Business
Oil prices are holding steady, with Brent crude at about $89 a barrel after last week's jump.
The reason? Ongoing conflict in Lebanon and attacks on oil ships near the Strait of Hormuz have everyone watching the global oil scene a little more closely.
US readies new Iran sanctions
Recent Israeli airstrikes in Lebanon killed at least 11 people, including a senior Hezbollah commander, while another vessel was attacked in the region near the Strait of Hormuz.
Even with these risks, Persian Gulf countries are still managing to export around 4 million barrels of oil each day.
The US is also gearing up for new sanctions on Iran as regional talks continue over how the Strait should be managed.