Brent crude futures rise above $81 a barrel after U.S.-Iran truce

Brent crude futures rose more than $1 a barrel by 22:06 GMT on Sunday, reaching $81.66 a barrel. Traders assessed how the U.S.-Iran agreement would affect oil supplies. Iran's finance minister told state news agency IRNA that the memorandum of understanding would lift oil sanctions and allow unrestricted crude sales.

The minister said increased revenues would help address the budget deficit and support the currency.

Regional developments Iran's parliament speaker stated that Tehran is prepared to respond to U.S. threats if necessary. A member of Iran's negotiating team said a draft on sanctions waivers for Iranian oil has been finalized. Turkish Foreign Minister Hakan Fidan told the Anadolu agency that technical issues in the agreement may cause delays and that Israel could attempt to interfere with the process.

Israel's former prime minister Naftali Bennett said Israeli forces in Lebanon have been instructed to hold fire against Hezbollah despite recent soldier deaths. Bennett stated that approval from senior levels not in the field is required before engaging threats.

Broader context Syria's president Ahmed al-Sharaa said in an interview that Syria could support Lebanon by opening economic channels and facilitating communication among Lebanese factions. He clarified that Syria seeks economic, not military, involvement.

The Israeli army said its soldiers killed two Palestinians near an illegal settlement north of Hebron after they threw Molotov cocktails. No Israeli forces were injured in the incident. Israeli attacks killed nine Palestinians and wounded 41 others in Gaza over the past 24 hours, according to the enclave's health ministry.

Since the October ceasefire, at least 1,021 people have been killed and 3,249 wounded by such attacks.