Oil falls 1% on ceasefire deal

Oil prices declined by 1% following the announcement of an agreement between Ukraine and Russia to halt targeting energy facilities. The US president stated that Russia will supply more than 2.25 million barrels of diesel to the global market during November and December, easing pressure on supplies. However, ongoing conflict in the Middle East and attacks on oil tankers continue to threaten the market, while tensions with the Houthis in Saudi Arabia persist, with reports of multiple casualties and injuries resulting from attacks on King Khalid Airport.

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