Oil prices flat amid Israel-Hezbollah ceasefire reports By Investing.com

by Bunker | Posted on November 24, 2024November 24, 2024

Source: The Patriot Light | AWK Network | VIEW ORIGINAL POST ==>

Investing.com– Oil prices moved little in early Asian trade on Monday, steadying after strong gains last week as traders digested reports that Israel was close to a ceasefire with Lebanon militant group Hezbollah.

While the prospect of a less severe Middle East conflict does portend a smaller risk premium for oil, prices remained near recent two-week highs amid heightened tensions between Russia and Ukraine.

expiring in January fell slightly to $75.14 a barrel, while inched lower to $70.75 a barrel by 19:47 ET (00:47 GMT).

Israel close to ceasefire with Hezbollah- Axios

Israel and Hezbollah were close to signing a ceasefire agreement to end hostilities in Lebanon, Axios reported on Sunday, citing Israeli and U.S. officials. Israel daily The Times of Israel also reported that Prime Minister Benjamin Netanyahu was holding high-levels talks over the deal, which was brokered by U.S. officials.

Israeli officials are considering a draft agreement that includes a 60-day transition period where the Israeli military will withdraw from southern Lebanon and Hezbollah will move its heavy weapons north of the Litani River.

The agreement will also see the establishment of a…

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Israel close to ceasefire with Hezbollah- Axios

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