Global oil prices have declined for three consecutive days, influenced by increasing hopes for a ceasefire in the Middle East and rising crude inventories and production in the United States, the world's largest oil consumer. The decline began after a senior Hamas delegation traveled to Egypt to negotiate a ceasefire, impacting the market significantly. On Monday, West Texas Intermediate's June contract fell by $1.22, or 1.45%, and Brent crude's June contract dropped by $1.10, or 1.23%. The ongoing ceasefire talks and concerns over US inflation ahead of a Federal Reserve meeting have further dampened demand outlooks.
Oil fell more than 1%, down for a third straight session on hopes of a ceasefire agreement in the Middle East and by rising crude inventories and production in top consumer the United States. More here: https://t.co/ogR8tc9iuB https://t.co/sYlEe3XwEC
Oil prices fell for a third day amid increasing hopes of a ceasefire agreement in the Middle East and on rising crude inventories and production in the US, the world's biggest oil consumer https://t.co/NJLFsvzavJ https://t.co/eTDS46gVXe
Oil falls for a third day on Middle East ceasefire hopes - Reuters https://t.co/eWxkm4fw3G
Oil falls for third day on Middle East ceasefire hopes https://t.co/SwzCyjNIDc
📽️ WATCH - OIL FALLS FOR A THIRD DAY ON MIDDLE EAST CEASEFIRE HOPES Oil prices fell for a third day on Wednesday amid increasing hopes of a ceasefire agreement in the Middle East and on rising crude inventories and production in the U.S., the world's biggest oil consumer. https://t.co/ciLMaYmlGY
Oil falls for a third day as U.S. crude inventories swell https://t.co/Z5D0GnIPB5 https://t.co/buWzoQEB02
OIL PRICES CONTINUE TO DROP AS THE POSSIBILITY OF A MIDDLE EAST CEASE-FIRE LOOMS, WHILE CONCERNS OVER US INFLATION DAMPEN DEMAND OUTLOOKS AHEAD OF A FEDERAL RESERVE MEETING.
Oil futures track toward back-to-back declines amid Mideast cease-fire talks https://t.co/5jzUCen5Ou
Global oil prices dropped after reports that a senior Hamas delegation is traveling to Egypt to negotiate a possible ceasefire. On Monday's close, West Texas Intermediate's June contract dropped by US$1.22, or 1.45%, while Brent crude's June contract fell by $1.10, or 1.23%.… https://t.co/Q1OkYp7tdC