Crude prices fall on possible ceasefire in Lebanon

Posted on:
Key Points

HOUSTON (Reuters) -Brent and U.S. crude futures fell on Tuesday as fears of supply disruptions from the conflict between Israel and Iran eased after Iranian-backed Hezbollah signaled support for a ceasefire proposal put forth by Lebanons government...

The drop, which began slowly on fears of reduced Chinese demand, snowballed after Hezbollah signaled support for a ceasefire and Israel expanded its ground war in Lebanon instead of attacking Irans oil infrastructure...

Hezbollah left the door open on Tuesday to a negotiated ceasefire with Israel after Israeli forces raised the stakes in the conflict with its Iran-backed enemy by making new incursions in the south of Lebanon...

Although it would be irresponsible to claim that the dust has settled on Irans direct and ominous involvement in the conflict, for now the threats of Israeli assaults on Iranian oil infrastructure have not materialized, said PVM analyst Tamas Varga...

In the United States, Hurricane Milton intensified into a Category 5 storm on its way to Florida after forcing at least one oil and gas platform in the Gulf of Mexico to shut on Monday.. Traders also will be looking out for the latest U.S. crude oil inventory data, with analysts expecting stocks to rise by 1.9 million barrels in the week ended Oct. 4, according to a preliminary Reuters poll...

You might be interested in

Oil gains on fears of wider Middle East conflict after rocket strike in Golan Heights

29, Jul, 24

By Yuka Obayashi and Emily Chow (Reuters) -Oil prices rose on Monday, paring last week's loss, on fears of a widening conflict in the Middle East following a rocket strike in the Israeli-occupied

Oil prices dip as markets debate hit from Middle East turmoil

10, Oct, 23

By Arathy Somasekhar (Reuters) - Oil prices edged down slightly on Tuesday after gaining more than 4% in the previous session as markets weighed the potential for supply disruptions as the conflict

Oil snaps Israel-Hamas conflict-induced rally, slides over $1 on demand concerns; Brent eases to $86/bbl

10, Oct, 23

Brent and WTI had surged more than $3.50 in the previous session as the clashes raised fears that the conflict could spread beyond Gaza, according to news agency Reuters.

Crude future extend losses as traders watch demand levels

11, Oct, 23

By Erwin Seba HOUSTON (Reuters) - Oil prices oil fell more than $1 a barrel on Tuesday, continuing a slide that began earlier in the day with traders focused on demand levels but still cautious as

As Israel war rages, oil traders are focused on Iran

08, Oct, 23

Oil traders are closely watching the conflict between Israel and Hamas, with concerns over its potential impact on oil supply and prices. While there is no immediate threat to supply, attention is focused on Iran, a major oil producer and backer of Hamas. A retaliatory strike against Iran or any disruption in the Strait of Hormuz would significantly affect the market.