Oil prices surged over 3% on Monday as Israel initiated a new wave of strikes on Iran, with Brent crude rising to $96.15 per barrel and West Texas Intermediate reaching $93.48. The Israeli Defense Forces targeted military sites in Iran shortly after President Trump warned Israeli Prime Minister Benjamin Netanyahu against retaliating. Despite the warning, Iran launched missile strikes, leading to explosions in central Israel. Trump described the Iranian strikes as 'unhelpful' to the peace process and called for both nations to cease hostilities. He insisted that he 'calls all the shots' regarding U.S. policy towards Iran and urged Netanyahu to accept a peace deal. The strikes come amid heightened tensions following a ceasefire agreement between Lebanon and Israel, which was violated by Israeli attacks on Beirut. Netanyahu's government confirmed the strikes were in response to attacks from Iranian-backed Hezbollah, indicating a potential escalation in the conflict.