Reported about 1 month ago
Oil prices are on track for a weekly decline as the market reacts to the recent death of Hamas leader Yahya Sinwar. Brent crude traded below $75 per barrel and West Texas Intermediate around $71, with futures expected to drop over 5% this week. President Biden's call for a cease-fire after Sinwar's killing contrasts with Israeli Prime Minister Netanyahu's assertion that military operations will continue. Despite a decline in U.S. petroleum inventories and slight signs of economic improvement in China, concerns about future oil supply and demand persist.
Source: YAHOO