12 Hrs
Source:
المشهد العربي
Oil drops amid ceasefire prospects
Oil prices declined on Friday after earlier gains of up to 5%, with Brent crude rising by 3.4% to reach its highest level since mid-September. Meanwhile, U.S. crude increased by 2.7% to recover from earlier losses of 13%. The current retreat is attributed to market assessments of the possibility of a ceasefire between the United States and Iran, as well as geopolitical risks affecting the market. Investors are also monitoring data from American oil rigs to gauge future supply levels. There is a significant disparity between crude prices, with the price difference exceeding $12.60 per barrel, the highest since May.
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