Oil prices jump as Iran launches missiles at Israel
Oil prices shot up on Monday, thanks to fresh tensions between Iran and Israel.
Brent crude climbed to nearly $96.50 a barrel, while US oil (WTI) hovered around $94.
The jump follows Iran launching missiles at Israel, putting a shaky West Asian ceasefire at risk.
Iran threatens attacks over Lebanon
Iran says it'll keep attacking unless Israel stops its actions in Lebanon.
Israel insists all missiles were intercepted with no damage done.
Meanwhile, Donald Trump is urging Israeli Prime Minister Netanyahu not to retaliate and suggests he may need to accept broader terms with Iran, including demands for a Lebanon ceasefire and unfreezing Iranian assets, even though Trump himself isn't on board.
OPEC+ raises July quota 188,000 bpd
OPEC+ agreed to increase its oil output quota for July by 188,000 barrels per day starting in July, but the ongoing blockade at the Strait of Hormuz, a crucial route for global oil, means those extra barrels might not flow any time soon.