Oil Prices Fluctuate Amid Middle East Tensions

Oil prices experienced fluctuations Monday after Iran announced the Strait of Hormuz was open for maritime traffic. This announcement followed earlier reports of heightened tensions in the region.

CBS News reported a ceasefire began between Israel and Lebanon. The New York Times noted the ceasefire placed Israeli prime minister Benjamin Netanyahu in a challenging position.

Earlier, President Donald Trump stated the U.S. had "prohibited" Israel from bombing Lebanon, according to The Times of Israel.

Bloomberg News reported that a deal with Iran appeared to be progressing as the Israel-Lebanon truce began.