Netanyahu Says War Not Ended as Brent Rises 1.25% to $94.25
Updated
Updated · CNBC · Jun 9
Netanyahu Says War Not Ended as Brent Rises 1.25% to $94.25
1 articles · Updated · CNBC · Jun 9
Summary
Brent crude climbed 1.25% to $94.25 a barrel after Benjamin Netanyahu said Israel’s war against Iran and Hezbollah “has not yet ended,” despite a pause in direct Tehran-Tel Aviv hostilities.
Iran told CNBC it had ceased strikes against Israel but would resume attacks if Israeli forces keep hitting Lebanon, underscoring why traders still see supply risks in the region.
WTI futures traded at $91.34 early Tuesday, though analysts said prices stayed below $100 partly because China cut crude imports from 11.7 million barrels a day in February to under 9 million by late May.
The oil spike is already feeding into other industries: IATA said global airline profits could halve in 2026 as jet fuel prices run 70% higher year on year, adding about $100 billion to carriers’ fuel bills.
With Iran controlling a key oil chokepoint, can the world economy avoid a major recession?
As airline profits plunge, will international air travel become a luxury only for the wealthy?
Amidst global conflict, is the trillion-dollar AI valuation boom a bubble waiting to burst?
Middle East Escalation 2026: Ceasefire Collapse, Strait of Hormuz Disruption, and Global Economic Fallout
Overview
On June 7, 2026, a Hezbollah rocket attack on northern Israel marked a critical threat to the fragile Middle East ceasefire, triggering an immediate and forceful response from Israel. This escalation quickly intensified the conflict, with Prime Minister Benjamin Netanyahu reaffirming Israel’s right to self-defense. The renewed hostilities not only undermined hopes for peace but also had an immediate impact on global stability and economic outlooks. As tensions rose, the situation highlighted how a single event could rapidly destabilize the region and send shockwaves through international markets, underscoring the ongoing risks of further escalation.