🚨 BREAKING

Oil jumps 2% as Israel expands Lebanon offensive, rattling ceasefire hopes.

Oil prices rose Monday after Israel ordered troops to push deeper into Lebanon, renewing concerns that clashes with the Iran-backed Hezbollah group could threaten a fragile ceasefire between Washington and Tehran.

Brent crude futures

, the international benchmark, gained 2.43% to $93.33 a barrel. West Texas Intermediate futures added 2.76% to $89.77 per barrel.

The escalation in hostilities, which followed the U.S.-brokered Israeli-Lebanon talks in Washington on Friday, dimmed hopes that Washington and Tehran were nearing an extension of their ceasefire arrangement.