Oil Prices Rise as Iran-Israel Tensions Linger After Ceasefire

Oil prices edged higher on Monday as markets weighed the possibility of renewed hostilities in the Middle East, a day after Iran announced an end to direct military operations against Israel but left the door open to resuming attacks. Brent crude rose 0.14 percent to $94.38 per barrel, while U.S. West Texas Intermediate crude gained 0.12 percent to $91.41, according to market data. During the previous session, prices had climbed as much as 5 percent after Israel carried out strikes on Iran and as developments unfolded in Lebanon. The gains were trimmed after Iran's Armed Forces said the military operations targeting Israel had concluded. KCM Trade analyst Tim Waterer said market stagnation expectations reflected ongoing uncertainty rather than a durable resolution to the conflict. Iran has warned it would resume operations if Israel continues attacking Hezbollah in Lebanon.