Oil prices rise as Lebanon fighting erupts and Hormuz traffic still slow (opens original article in a new tab)

Oil prices rose as US-Iran tensions and regional conflicts affect Strait of Hormuz traffic and shipping safety.

• Brent crude rose 0.65% as traders assess US-Iran agreement's impact on Strait of Hormuz
• Israel-Lebanon clashes threaten US-Iran ceasefire and cause oil price volatility
• Strait of Hormuz traffic remains below pre-war levels with 500 vessels waiting to exit Gulf
• Tanker operators express safety concerns due to attacks and Iranian mines in the strait
• US-Iran meeting in Switzerland cancelled amid ongoing regional conflicts