The Israel Defense Forces (IDF) launched a targeted attack in Beirut, following a missile strike by Lebanon-based armed group Hezbollah on Saturday that killed 12 youngsters in the Israeli-occupied Golan Heights.

Brent’s price is expected to rise as this news has faded hopes of making some progress in the US-mediated ceasefire deal between Israel and Hamas. The potential ceasefire agreement could have eased crude oil supply concerns in the region.

“The IDF carried out a targeted strike in Beirut, on the commander responsible for the murder of the children in Majdal Shams and the killing of numerous additional Israeli civilians,” it said on social media platform X (formerly Twitter).

Tension grew further in the Middle East amid media reports that Iran-backed Hamas militant group’s leader Ismail Haniyeh was killed at his residence in Tehran.

Brent crude futures gained earlier this week as tensions between Israel and the Iran-backed Hezbollah militants in Lebanon grew, VANDA Insights’ founder and analyst Vandana Hari said.

Source: ENGINE by Aparupa Mazumder