Global oil prices moved higher at the start of the week after renewed geopolitical tensions in the Middle East triggered concerns over energy supplies. Brent crude rose above $81 per barrel, while West Texas Intermediate (WTI) traded near $79, following reports that Iran had once again closed the strategically important Strait of Hormuz.
At least five people were killed in an Israeli airstrike in southern Lebanon on Friday, just a day after Israel and Hezbollah agreed to renew a ceasefire aimed at preventing further escalation in the region.
