"The price of Brent crude oil has risen more than 2 per cent on Thursday morning, following attacks on Lebanon by Israel. A ceasefire deal was outlined and agreed between the US and Iran, leading to a massive fall in the cost of the commodity on Wednesday."
"Iran's deputy foreign minister Saeed Khatibzadeh called Israel's strikes in Beirut a grave violation of the ceasefire agreement and said everybody in the Middle East was expected to follow the agreement."
"The real driver of lower oil prices will be ships passing through the Strait of Hormuz, and there have been reports it remains mostly closed to transit."
The Independent focuses on essential topics like reproductive rights, climate change, and Big Tech, emphasizing the importance of on-the-ground reporting. Donations support journalists in delivering unbiased coverage across the political spectrum. Recent events, including a ceasefire deal between the US and Iran, have influenced oil prices, which rose after Israeli airstrikes in Lebanon. The situation remains unstable, affecting shipping routes through the Strait of Hormuz, crucial for oil transport. The need for continued reporting on these developments is highlighted.
Read at www.independent.co.uk
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