Oil Price Today (June 1): Crude oil gains over 2% as Israel attacks Iran-backed Hezbollah. What are experts saying?

Oil prices surged over 2% as Israel advanced troops into Lebanon. This escalation follows peace talks and weakens hopes for a U.S.-Iran ceasefire extension. Crude futures saw significant gains. The conflict, a spillover from the Iran war, has impacted global oil flows. Analysts suggest a prolonged Strait of Hormuz closure could tighten supplies further.