US EditionOil set for weekly loss on fading Mideast supply risks
- On Wednesday, former U.S. President Donald Trump urged Israel to drop Netanyahu’s legal cases, calling it a 'ridiculous witch hunt' and demanding immediate trial cancellation.
- Following the U.S. strike on Iranian nuclear sites last Saturday, Netanyahu, Trump, Rubio, and Dermer held a four-way call to coordinate Middle East plans.
- Yardeni Research forecasts a 'radical transformation' in the Middle East, with plans to expand the 2020 Abraham Accords, signaling a potential shift in regional diplomacy.
- Trump’s call to end Netanyahu’s legal cases could strengthen his coalition, as partners push for Gaza war resolution and hostage releases.
- Netanyahu plans to visit Washington soon to coordinate a ceasefire and discuss expanding the Abraham Accords, aiming to reshape regional peace efforts.
25 Articles
25 Articles
Oil prices have fallen this week, with markets leaning on a lull between Iran and Israel after the US strikes led by Donald Trump. But this confidence could hide a longer-term myopia and high price volatility.
Motorists' pockets will be slightly lighter next week due to the expected reduction in the prices of petroleum products. This is a result of the easing of tensions in the Middle East due to the ceasefire between Israel and Iran.
Channel News Asia
Oil set for weekly loss on fading Mideast supply risks
Oil was set to fall this week with the Iran-Israel ceasefire holding and easing concerns over Middle East supply risks, although prices rose on Friday as the summer driving season ramped up fuel demand in the United States. Brent crude futures rose 34 cents, or 0.5 per cent, to $68.07 a barrel by 0111 GMT.
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