Israel Strikes Beirut, Iran Retaliates as Oil Prices Rise
Israel carried out airstrikes in Beirut. Iran responded with attacks on Israel and warned of further action if operations in Lebanon expand. Brent crude for August 2026 rose 4.1 percent.
rediff.comIsrael conducted airstrikes in Beirut. Iran responded with retaliatory attacks on Israel. Iran stated that further expansion of Israeli operations in Lebanon would bring "devastating blows."
Brent crude futures for August 2026 increased 4.1 percent following the escalation. U.S. President Trump said he had planned to announce a deal with Iran this week before the strikes occurred.
Statements from U.S.
President Trump
U.S. President Trump said Israeli officials will have no choice but to accept any agreement the United States reaches with Iran. Asian-Pacific stock indexes declined amid the escalation and after prior technology-led losses. European equity futures pointed to a weaker open. The yen traded above 160.00 against the dollar.
