Middle East Tensions Drive Modest Oil Price Gain

Oil prices opened modestly higher in early Asian trading as investors weighed the risks of renewed fighting between Israel and Hezbollah. The possibility of additional U.S. sanctions against Iran also contributed to the increase.

The Brent crude futures contract gained 0.5% on the news, while the dollar remained largely unchanged against major currencies.

Investors are closely monitoring developments in the Middle East, where a recent escalation in tensions has sparked concerns about oil supply disruptions and potential price spikes.