Four soldiers are climbing the wall and ready to fight.
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Oil prices rose on Monday amid heightened tensions in the Middle East after Iran fired a missile at Israel, raising concerns that the conflict could drag on.
international benchmark brent crude oil July futures rose 2.42% to $92.73 per barrel. us West Texas Intermediate Futures In August, it rose 2.44% to $95.36 per barrel.
Israel has been hit by Iranian missiles for the first time since the start of the ceasefire, and President Donald Trump has been briefed on the renewed fighting, the White House confirmed to MS NOW. Missile strikes “certainly do not help negotiations.” President Trump told Fox News on Sunday.
“At this stage, an agreement with President Trump is no longer viable,” an Iranian official involved in negotiations between Tehran and Washington told MS NOW.
Iranian Parliament Speaker MB Ghalibaf said in a post on X that the US’ “maritime blockade and violation of the agreement on Lebanon” amounted to a violation of the ceasefire. He added that the current U.S. blockade and military operations in Lebanon make U.S. and regime bases and assets in the region “legitimate targets.”
Meanwhile, OPEC+ agreed to increase its oil production target by 188,000 barrels per day starting in July, marking the fourth time since the closure of the Strait of Hormuz that oil production quotas have been approved, according to an OPEC statement. This increase is on par with June’s increase, which was lowered from the 206,000 barrel per day increase in May and April due to the UAE’s withdrawal.
—CNBC’s Garrett Downs contributed to this report.
