Oil prices fall on Israel-Lebanon ceasefire deal

Quick Summary:

Oil prices slid on Tuesday, giving back early gains in choppy trade after Israel agreed to a ceasefire deal with Lebanon, reducing oil's risk premium.

Meanwhile, US crude oil and gasoline stockpiles were expected to have fallen last week while distillate inventories likely rose, an extended Reuters poll showed.

Crude oil would not be exempt from the trade penalties, two sources familiar with the plan told Reuters on Tuesday.

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Category: EconomyBusiness

Markets: MalaysiaCanadaIsraelLebanonMexicoSingapore

Topics: CrudeMarket OilPrices EnergyTrade CeasefireImpact WTICrude /Business/ OPECPolicy Commodities TrumpTariffs BrentCrude

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-27 @ 06:29:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 567 words

Reading Time: 4 minutes read

Sentences: 25 lines

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Copyright Owner: © The Star

News ID: 23898767

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