26/08/2024 Evening Reports

Oil Rises After Israeli Strikes and Call to Halt Libyan Exports

Oil advanced after an Israeli strike on Hezbollah targets in southern Lebanon raised tensions in the Middle East and Libya’s eastern government said it will halt exports. Global benchmark Brent traded near $81 a barrel, while West Texas Intermediate climbed past $76. Israel sent more than 100 warplanes to take out thousands of Hezbollah missile launchers on Sunday, after which the militant group responded by firing more than 200 projectiles that did limited damage, according to Israeli officials. Hezbollah, which is backed by Iran and designated a terrorist organization by the US, said it had concluded its military operation for the day, but that it will continue hostilities with Israel until the country agrees to a cease-fire in Gaza.

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