Oil rises as US and Iran trade strikes, Israel moves further into Lebanon

BEIJING: Oil prices rose more than 2 percent on Monday after Iran and the US traded ‌strikes and Israel ordered troops to move further into Lebanon in the battle with the Tehran-backed Hezbollah militant group. US crude futures rose $2.29 or 2.62 percent to $89.65 a barrel as of 07:36 a.m. Saudi time. Brent futures rose $2.05 or 2.25 percent to $93.17 a barrel.

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