Oil prices experienced a significant increase on June 8, with U.S. crude futures rising by $2.10 to $92.64 per barrel, and Brent crude gaining $2.33 to $95.42 per barrel. This surge follows Israeli airstrikes on Lebanon, which have escalated tensions despite a ceasefire established on June 3. The ongoing conflict raises concerns about the resumption of crude shipments through the vital Strait of Hormuz, a key route for global oil supplies. Iran's response to the strikes included missile attacks on Israel, further complicating the situation. Analysts note that the recent OPEC+ decision to increase oil output is unlikely to alleviate market worries, as many producers struggle to meet targets due to disruptions. The potential for prolonged instability in the region could tighten global oil supplies, especially if shipping through the Strait of Hormuz does not normalize quickly. Morgan Stanley highlighted that the oil market is facing a critical period, with risks of rising prices if the situation continues to deteriorate.