Israel's strikes on Lebanon raise oil to $92.64 and $95.42
Business
Markets are reacting to fresh conflict in the Middle East, with Israel's renewed strikes on Lebanon sparking worries about oil supply disruptions through the crucial Strait of Hormuz.
As a result, oil prices shot up: US crude is now at $92.64 a barrel and Brent at $95.42 a barrel.
Gold slides on US rate worries
While oil is climbing, gold is moving the other way thanks to concerns about possible US interest rate hikes.
Spot gold just hit its lowest point since March, dropping 0.2%.
Meanwhile, silver managed a small bump after last week's big fall, and platinum and palladium also saw slight gains.
The US dollar stayed strong, putting pressure on both the euro and British pound in currency markets.