Oil prices climbed more than 2%, starting June on a weak note, after Israel ordered troops to advance deeper into Lebanon in its conflict with the Iranian-backed Hezbollah group, despite a ceasefire announced more than six weeks ago.
The escalation in hostilities came shortly after the United States hosted peace talks between Israel and Lebanon in Washington on Friday. The renewed fighting weakened hopes that the U.S. and Iran could soon agree to extend their ceasefire arrangement.
