Brent climbs 0.38% to $79.85 a barrel as Vance warns Israel on Lebanon escalation

Brent crude futures rose 0.38% on 19 June to $79.85 a barrel after U.S. Vice President JD Vance warned Israel against widening its Lebanon campaign, reviving concerns about the durability of the U.S.-Iran agreement. Oil tanker traffic through the Strait of Hormuz resumed after the blockade was lifted, but prices remained well above pre-war levels. Goldman Sachs expects Gulf exports to return to pre-war levels by end-July, with current flows around 70% of pre-war levels.