Crude oil futures rose on Monday morning following an announcement from Israeli Prime Minister Benjamin Netanyahu that military forces would intensify their operations in Lebanon.
As of 9:12 AM on Monday, August Brent oil futures were trading at $93.11, reflecting a 2.18 percent increase. Meanwhile, July crude oil futures for West Texas Intermediate (WTI) reached $89.56, up by 2.52 percent. On the Multi Commodity Exchange (MCX), June crude oil futures were priced at ₹8519 during the initial trading hour, an increase of 2.87 percent from the previous close of ₹8281. July futures traded at ₹8350, up by 2.64 percent from ₹8135.
Prime Minister Netanyahu stated he has directed Israeli forces to advance their incursion into Lebanon. In a public statement, he noted, “Our forces have crossed the Litani River. They took dominant terrain. They captured the Beaufort ridge. And now my instruction is to deepen and expand our hold on places that were under Hezbollah’s control.”
He described the capture of Beaufort as a significant turning point, claiming, “We have broken the barrier of fear. We are taking the initiative; we are operating on all fronts – in Syria, in Gaza, in Lebanon; we have established security zones beyond our borders to protect our communities.”
Netanyahu emphasized the scale of recent military actions, stating, “Since the beginning of the War of Redemption, we have eliminated 8,000 Hezbollah terrorists. Since Operation Roaring Lion, we have eliminated 3,000. In the past month alone – 700. This is more than everyone we eliminated during the Second Lebanon War.”
This escalation occurs amid ongoing negotiations between Iran and the United States concerning efforts to de-escalate the conflicts in West Asia.
Published on June 1, 2026.
