London. Global oil prices climbed as fresh fighting between Israel and armed groups in Lebanon added to concerns over stability in the Middle East. The renewed violence comes at a time when tanker traffic through the Strait of Hormuz remains below normal levels despite efforts to restore shipping activity.
Brent crude and US benchmark oil both posted gains as traders reacted to growing uncertainty surrounding regional security and the future of energy exports from the Gulf. Analysts said the market remains sensitive to any developments that could threaten major oil supply routes.
Although some oil tankers have resumed passing through the Strait of Hormuz, shipping activity remains slower than before the recent tensions. Industry experts say concerns over security risks, insurance costs and logistical delays are preventing a full return to normal operations.
Energy markets had initially welcomed signs of easing tensions following diplomatic efforts between the United States and Iran. However, the postponement of planned talks and the latest violence in Lebanon have renewed doubts about the durability of any long-term peace arrangement.
Experts warn that while oil prices remain below their wartime peaks, continued instability in the region could keep energy markets volatile in the weeks ahead.
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