Foreign: Oil prices rose more than $4 on Monday as investors worried about a new Israeli attack on Iran as well as a retaliatory strike on Lebanon.
According to Reuters on June 8, 2026, Brent crude rose $4.42, or 4.47%, to $97.15 a barrel, while U.S. crude rose $4.07, or 4.50%, to $94.61 a barrel.
Israel said on Monday it had attacked a petrochemical plant in southwestern Iran, along with strikes elsewhere on military targets. The attack came despite US President Donald Trump reportedly telling Israeli Prime Minister Benjamin Netanyahu to avoid further strikes.
In the first strike on an energy site in Iran since a ceasefire on April 8, Israel said it had struck a target at the Mahshahr petrochemical facility. A provincial official told Iran’s semi-official Fars news agency that parts of the facility had been damaged.
Now, hopes are fading for a full-scale end to the war and the resumption of crude oil flows through the Strait of Hormuz, a passage through which about a fifth of the world’s oil and liquefied natural gas are transported.
Translated by Nay Tola
