Oil rises over 2% as Israel-Hezbollah fighting threatens supplies
Business
Oil prices jumped more than 2% on Monday as fighting between Israel and Hezbollah heated up in Lebanon.
Brent crude hit $93.05 a barrel, and US WTI climbed to $89.53.
The spike comes with worries that the conflict could mess with global energy supplies, especially if it spreads.
Naval mines reports heighten Hormuz risk
The fighting isn't just local: it's threatening vital oil corridors like the Strait of Hormuz, which handles about 20% of the world's oil and gas shipments.
Uncertainty around cease-fire talks and reports of naval mines make things even shakier.
China demand soft oil markets tense
Even though demand from China is soft right now, political tensions are keeping oil markets on edge.
The risk of wider instability in the Middle East has everyone watching closely, and it's pushing prices up further.