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    <title>Aaj TV English News - Business &amp; Economy</title>
    <link>https://english.aaj.tv/</link>
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    <language>en-Us</language>
    <copyright>Copyright 2026</copyright>
    <pubDate>Mon, 08 Jun 2026 11:15:59 +0500</pubDate>
    <lastBuildDate>Mon, 08 Jun 2026 11:15:59 +0500</lastBuildDate>
    <ttl>60</ttl>
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      <title>Oil prices climb more than $3 after Israeli strikes on Lebanon</title>
      <link>https://english.aaj.tv/news/330459994/oil-prices-climb-more-than-3-after-israeli-strikes-on-lebanon</link>
      <description>&lt;p&gt;&lt;strong&gt;Brent oil prices jumped more than $3 a ‌barrel on Monday, initially spooked by Israel’s launch of renewed strikes on Lebanon a day earlier, but also gaining further steam after sounds of explosions were heard in Iran.&lt;/strong&gt;&lt;/p&gt;
&lt;p&gt;Sounds of blasts were heard - in Tehran, Tabriz and Isfahan, local media reported early on ​Monday, eroding hopes for an imminent end to the wider war and a restart to crude ​flows through the Strait of Hormuz.&lt;/p&gt;
&lt;p&gt;Brent crude futures rose $3.20 or 3.39% to $96.24 a barrel ⁠, while US crude futures were up $2.87 or 3.17% at $93.41 per barrel.&lt;/p&gt;
&lt;p&gt;Those gains erased ​Friday’s losses, when prices fell on hopes of a de-escalation in the US-Iran conflict, which has seen oil prices ​rise over 50% since March.&lt;/p&gt;
&lt;p&gt;Though Iran on Sunday fired a salvo of missiles at Israeli targets in retaliation, US President Donald Trump insisted that an agreement to end the wider war remains well within reach.&lt;/p&gt;
&lt;p&gt;Trump also reportedly told Israeli Prime Minister ​Benjamin Netanyahu to refrain from further attacks.&lt;/p&gt;
&lt;p&gt;“It’s not going to have any impact on the deal,” Trump told ​the Financial Times. “I call the shots. I call all the shots. He doesn’t call the shots.”&lt;/p&gt;
&lt;p&gt;Iran has made a ceasefire with ‌Lebanon a ⁠condition for a peace deal with Washington.&lt;/p&gt;
&lt;p&gt;Israel invaded Lebanon in March after Iran-backed Hezbollah fired rockets and drones across the border.&lt;/p&gt;
&lt;p&gt;Lebanon and Israel said on June 3 that they had agreed to a ceasefire following negotiations in Washington.&lt;/p&gt;
&lt;p&gt;The two countries had previously agreed to a cessation of hostilities in April, but violence continued.&lt;/p&gt;
&lt;p&gt;The wider ​war has been stalemated ​since the US and ⁠Israel paused their attacks on Iran in early April, with Tehran blocking most shipping through the Strait of Hormuz, the main transit route for one-fifth of the ​world’s oil.&lt;/p&gt;
&lt;p&gt;Washington has imposed its own blockade of Iranian ports.&lt;/p&gt;
&lt;p&gt;Amid the resulting ​supply crisis, OPEC+ on ⁠Sunday agreed to its fourth increase in oil output in four months.&lt;/p&gt;
&lt;p&gt;But analysts said the decision would have little impact since most OPEC+ members could not meet their output targets because of the Hormuz closure or, in ⁠the case ​of Russia, infrastructure attacks that have eroded its production capacity.&lt;/p&gt;
&lt;p&gt;“In ​the current market, the physical impact of such a decision would be close to zero,” Rystad Energy’s head of geopolitical analysis, Jorge Leon, ​said in a note to clients.&lt;/p&gt;
</description>
      <content:encoded xmlns="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p><strong>Brent oil prices jumped more than $3 a ‌barrel on Monday, initially spooked by Israel’s launch of renewed strikes on Lebanon a day earlier, but also gaining further steam after sounds of explosions were heard in Iran.</strong></p>
<p>Sounds of blasts were heard - in Tehran, Tabriz and Isfahan, local media reported early on ​Monday, eroding hopes for an imminent end to the wider war and a restart to crude ​flows through the Strait of Hormuz.</p>
<p>Brent crude futures rose $3.20 or 3.39% to $96.24 a barrel ⁠, while US crude futures were up $2.87 or 3.17% at $93.41 per barrel.</p>
<p>Those gains erased ​Friday’s losses, when prices fell on hopes of a de-escalation in the US-Iran conflict, which has seen oil prices ​rise over 50% since March.</p>
<p>Though Iran on Sunday fired a salvo of missiles at Israeli targets in retaliation, US President Donald Trump insisted that an agreement to end the wider war remains well within reach.</p>
<p>Trump also reportedly told Israeli Prime Minister ​Benjamin Netanyahu to refrain from further attacks.</p>
<p>“It’s not going to have any impact on the deal,” Trump told ​the Financial Times. “I call the shots. I call all the shots. He doesn’t call the shots.”</p>
<p>Iran has made a ceasefire with ‌Lebanon a ⁠condition for a peace deal with Washington.</p>
<p>Israel invaded Lebanon in March after Iran-backed Hezbollah fired rockets and drones across the border.</p>
<p>Lebanon and Israel said on June 3 that they had agreed to a ceasefire following negotiations in Washington.</p>
<p>The two countries had previously agreed to a cessation of hostilities in April, but violence continued.</p>
<p>The wider ​war has been stalemated ​since the US and ⁠Israel paused their attacks on Iran in early April, with Tehran blocking most shipping through the Strait of Hormuz, the main transit route for one-fifth of the ​world’s oil.</p>
<p>Washington has imposed its own blockade of Iranian ports.</p>
<p>Amid the resulting ​supply crisis, OPEC+ on ⁠Sunday agreed to its fourth increase in oil output in four months.</p>
<p>But analysts said the decision would have little impact since most OPEC+ members could not meet their output targets because of the Hormuz closure or, in ⁠the case ​of Russia, infrastructure attacks that have eroded its production capacity.</p>
<p>“In ​the current market, the physical impact of such a decision would be close to zero,” Rystad Energy’s head of geopolitical analysis, Jorge Leon, ​said in a note to clients.</p>
]]></content:encoded>
      <category>Business &amp; Economy</category>
      <guid>https://english.aaj.tv/news/330459994</guid>
      <pubDate>Mon, 08 Jun 2026 09:01:39 +0500</pubDate>
      <author>none@none.com (Reuters)</author>
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        <media:title>Heavy machinery operates to remove the rubble in the aftermath of an Israeli strike on the southern suburbs of Beirut, Lebanon. -- Reuters</media:title>
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