Oil Prices Rise as Israel Expands Lebanon Offensive

Oil prices climbed in early Asian trading on Monday as Israeli troops moved further into Lebanon over the weekend, adding fuel to fears that the broader Middle East conflict is moving toward escalation rather than a peace deal. At the time of writing, West Texas Intermediate crude was up 2.88% at $89.88 per barrel, while Brent crude had risen 2.43% to trade at $93.33 per barrel. The latest escalation in the regional conflict came after Israeli troops crossed the Litani River, having declared all areas south of the Zahrani River a combat zone.…