Brent crude futures fell 24 cents to $91.92 a barrel as of 0837 GMT, while U.S. West Texas Intermediate crude futures were down 36 cents at $87.72
Oil prices slipped on Monday as investors continued to focus on the situation in the Middle East, where diplomatic efforts are intensifying in an attempt to contain the conflict between Israel and Hamas.
Both benchmarks traded over $1 a barrel lower than their previous settlement price at their nadir in Monday’s session. Israel continued its bombardment of Gaza on Monday after launching air strikes over southern Lebanon overnight. “There is some relief in the oil market that Israel is holding off on a planned ground incursion of northern Gaza to negotiate a release of hostages, which opens up a window for diplomacy,” said Vandana Hari, founder of oil market analysis provider Vanda Insights.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil prices ease as aid convoys arrive in embattled Gaza StripOil prices eased on Monday as aid convoys started to arrive in the Gaza Strip over the weekend amid diplomatic efforts to contain a conflict between Israel...
Read more »
Oil prices ease as aid convoys arrive in embattled Gaza StripExplore stories from Atlantic Canada.
Read more »
Oil Steadies as Israel Delays Gaza Invasion Amid Hostage Talks(Bloomberg) -- Oil was steady as Israel held off on its ground invasion of Gaza amid ongoing diplomatic efforts to secure the release of more hostages.Most...
Read more »
Aid Gets to Gaza for First Time Since Israel-Hamas War Began(Bloomberg) -- Vital aid moved into Gaza from Egypt for the first time since the Israel-Hamas war erupted two weeks ago, fulfilling a key demand of US...
Read more »
Canadian officials meet in Cairo, pledge $50M in humanitarian aid for GazaAs desperately needed humanitarian aid makes its way into Gaza, Canada's federal ministers arrive in Cairo, Egypt to discuss rising tensions in the Middle East amid the Israel-Hamas war.
Read more »
First Aid Trucks Enter Gaza as Egypt Border Briefly OpensEgyptian officials said 20 trucks with medical supplies and food crossed into Gaza on Saturday morning as the Rafah border crossing briefly opened...
Read more »