Oil Prices Fall as Diplomacy Hopes Outweigh Escalation Fears in Middle East War
7 Articles
7 Articles
Oil prices remain minus Thursday afternoon, and market participants assess the prospects for resolving the Middle East conflict against the backdrop of reports of new diplomatic efforts by its parties.
Oil prices closed this Thursday (29) in a fall, impacted by reports of new attempts between the United States and Iran to seek an agreement to end the war in the Middle East. Negotiated at the Intercontinental Exchange of London (ICE), Brent oil for January closed in a fall of 0.84% (US$ 0.78), to US$ [...]
Oil prices declined when Thursday's dealings were settled, with growing hopes that peace talks between the United States and Iran could resume, alleviating some concerns about the Middle East's supply turmoil in the wake of the regional conflict. The price of Brent's crude barrel (December delivery) fell by $0.44 (a 0.38% reduction), closing at $114.88.
Investors are monitoring ongoing efforts to prevent further escalation of the conflict in the region.
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