Oil Prices Fluctuate as Iran Announces End to Attacks on Israel
Oil prices experienced significant fluctuations on Monday, initially rising by more than 5% before paring gains. This volatility followed an announcement from Iran's military declaring an end to a series of attacks on Israel. Despite this announcement, Iran issued a warning of potential harsher attacks if Israel continues its military actions in Lebanon. Brent crude futures increased by $1.43, or 1.5%, reaching $94.52 a barrel, while U.S. West Texas Intermediate crude futures rose by $1.03, or 1.1%, to $91.57. The price surge was initially driven by renewed Israeli strikes on Iran and Lebanon, which dampened hopes for a swift resolution to the ongoing conflict. The conflict has significantly impacted oil prices, with Brent crude rising approximately 31% and WTI about 37% since the conflict began over 100 days ago. 
