Texas oil rises 0.84% to $91.30 per barrel

New York.- Texas Intermediate oil rose 0.84% this Monday, to 91.30 dollars a barrel, following the recent escalation of the conflict in the Middle East involving Israel and Iran due to the offensive against Lebanon.

At the end of the session, futures contracts for the month of July, the benchmark crude in the United States, added 0.76 dollars compared to the previous close.

Iran launched an attack against Israel on Sunday night with a total of eleven missiles against the north of Israeli territory, in response to the Israel Defense Forces’ attacks against the suburbs of the capital of Lebanon.

After responding with attacks, Israeli Prime Minister Benjamin Netanyahu threatened Iran and Hezbollah if they “make the mistake” of attacking his country again.

Tehran has been conditioning an agreement with the United States for weeks to stop the war and reopen the Strait of Hormuz on the cessation of the Israeli offensive in Lebanon.

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Israel and Lebanon agreed to a ceasefire in Washington last week, but the Israeli delegation conditioned it on the Shiite group Hezbollah stopping its attacks.

Following the recent escalation, U.S. President Donald Trump urged both countries to stop the attacks “immediately“.

Meanwhile, the U.S. and Iran remain deadlocked in talks after weeks of exchanging drafts of a potential peace agreement, and the Strait of Hormuz, which before the start of the war was key to a fifth of the world’s oil, remains blocked by both countries.

The U.S. military fired on an oil tanker in the Gulf of Oman this Monday for violating its perimeter, according to the U.S. Central Command U.S.