Oil prices gained during Monday's Asian trade, buoyed by renewed tensions in the Middle East as Israel reportedly resumed attacks on Lebanon despite a ceasefire agreement.
By 2:20 pm AEDT (3:20 am GMT) Brent crude futures rose by $0.40 or 0.6%, to US$72.29 a barrel, while U.S. West Texas Intermediate (WTI) crude gained $0.42 or 0.6% to $68.42 a barrel.
The Middle East's ceasefire between Israel and Lebanon, which came into effect last Wednesday, appeared fragile as both sides accused each other of violations.
Lebanon's Health Ministry reported injuries following two Israeli strikes in southern Lebanon.
Additionally, airstrikes intensified in Syria, where President Bashar al-Assad reaffirmed his commitment to suppress insurgent forces in Aleppo.
Among data releases, China's official manufacturing data showed modest expansion for the second consecutive month in November, reflecting the effects of recent government stimulus measures.
Meanwhile, the Organisation of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, postponed their planned meeting to December 5.
The upcoming meeting will determine oil policy for the early months of 2025.