Oil Prices Drop, Recover on Gaza War Ceasefire Proposal Rumors ...Middle East

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Oil Prices Drop, Recover on Gaza War Ceasefire Proposal Rumors
source : OILPRICE ( Middle East ) () 23
Oil prices began tanking on Thursday afternoon as news was reported by Al Jazeera that Israel and Hamas had agreed to a ceasefire proposal that could put an end to the geopolitical premium that has buoyed oil in recent months. Al Jazeera deleted the Tweet a short while later, with oil prices reclaiming at least some of the losses. While traders may have gotten used to—and perhaps immune from—fear-based geopolitical events that merely threaten to raise the price of oil without creating actual supply problems, today’s drop in crude…

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