Singapore, 1 June 2026 – Oil prices climbed more than 2% in early Asian trading after Israel moved deeper into Lebanon, reviving concerns that escalating Middle East tensions could keep energy markets volatile and threaten already-sensitive global supply conditions.
U.S. crude futures rose by US$2.37, or 2.71%, to US$89.73 per barrel, while Brent crude gained US$2.07, or 2.27%, to US$93.19 per barrel. The rebound came after both benchmarks declined on Friday, when investors briefly priced in optimism over a potential ceasefire arrangement involving the United States and Iran.
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