Oil prices spike over 2% after Israeli attacks on Lebanon
Business
Oil prices spiked on Thursday after Israeli attacks on Lebanon stirred up worries about the U.S.-Iran cease-fire.
By midmorning, global crude futures were up over 2%, with Brent at $96.66 and WTI at $97.06.
Indian crude prices also rose more than 2%, making fuel markets a bit more unpredictable.
Lebanon conflict disrupts Strait of Hormuz
Ongoing conflict in Lebanon is disrupting key oil routes, especially through the Strait of Hormuz.
Iran's foreign minister called on the US to stick to cease-fire promises, highlighting how fragile things are right now.
Meanwhile, US data showed a big jump in domestic oil stockpiles, up by 3.1 million barrels, which could impact future supply and prices for everyone filling up their tanks.