From Investing.com: 2024-04-07 21:01:14

Oil prices dropped over $1 due to easing Middle East tensions after Israel withdrew soldiers from Gaza and committed to ceasefire talks. Brent fell to $89.47 a barrel, while WTI crude dropped to $85.29. Israel and Hamas are in talks for a potential ceasefire, calming concerns of supply disruption that drove prices up last week. Saudi Arabia raised oil prices to Asia in May, while a fire at a Pemex platform in Mexico led to at least one death. Despite expectations, Goldman Sachs predicts Brent to stay below $100 a barrel and the US added oil rigs but saw strong economic data delaying Fed rate cuts.



Read more at Investing.com: Oil tumbles nearly 2% as Middle East tensions ease By Reuters