From Investing.com: 2024-04-29 06:21:22

Oil prices remained stable on Monday as peace talks between Israel and Hamas in Cairo eased concerns of a broader conflict in the Middle East. U.S. inflation data also indicated that interest rate cuts may not happen soon. Prices for June futures fell by 0.6% to $88.99 a barrel, while July futures dropped by 0.3% to $87.94 a barrel. Israel conducted airstrikes in Gaza, leading to casualties. The U.S. Federal Reserve’s upcoming monetary policy review is awaited by markets. Concerns over higher inflation rates could delay rate cuts, affecting oil demand. China’s industrial profit growth also slowed in March, impacting oil demand.



Read more at Investing.com: Oil prices steady on Hamas ceasefire talks By Reuters