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Oil prices fall amid Lebanon-Israel ceasefire
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Oil prices dropped today, Thursday, after Israel and Lebanon agreed on a ceasefire, boosting hopes of reaching a broader agreement to end the war between the United States and Iran. Brent crude fell to $97.14 per barrel, and West Texas Intermediate declined to $95.4, despite the upward movement seen in the previous session due to escalating hostilities in the region. The U.S. House of Representatives had approved a resolution aimed at reducing President Trump's war powers against Iran, but it requires Senate approval to take effect. Trump also indicated the possibility of making progress in negotiations with Iran before the end of the week. Additionally, the Energy Information Administration announced a significant decline in U.S. oil inventories.
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