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Iran and Israel exchange attacks/ Oil prices rise by 4.5%

2026-06-08 08:41:00, Kosova & Bota CNA

Iran and Israel exchange attacks/ Oil prices rise by 4.5%

Oil prices rose on Monday, with Brent crude rising 4.5% to above $97 a barrel. The rise was driven by renewed tensions in the Middle East, following Iran's missile launch toward Israel and fresh concerns about the durability of a fragile ceasefire in the region.

Markets remain particularly sensitive to any developments that could affect energy flows from the Persian Gulf, as peace talks remain deadlocked.

Tehran has reportedly fired multiple rockets towards Israel, warning against further military operations in Lebanon. The Israeli military said all the rockets were successfully intercepted, with no casualties or significant damage reported.

The development has revived fears of a new escalation in the conflict, at a time when diplomatic efforts to de-escalate remain stalled. At the same time, US President Donald Trump has reportedly expressed his displeasure over the Israeli attacks on Beirut and called on the Israeli government to avoid a new military response against Iran.

According to reports, the US president plans to contact Prime Minister Benjamin Netanyahu regarding the attacks. At the same time, he called on Tehran to return to the negotiating table, assessing that there is still room for a diplomatic solution.

The prolonged disruption of exports from the Persian Gulf has raised concerns about global energy sufficiency, despite efforts by some producers to increase their output.

In this context, OPEC+ approved a new increase in production quotas for July by 188,000 barrels per day, seeking to strengthen supply in the market. However, geopolitical risks in the Middle East remain the main factor shaping prices. /CNA





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