{"id":107534,"date":"2024-10-28T12:08:22","date_gmt":"2024-10-28T08:08:22","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=107534"},"modified":"2024-10-28T12:08:25","modified_gmt":"2024-10-28T08:08:25","slug":"oil-prices-slide-over-4-as-middle-east-tensions-ease","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-prices-slide-over-4-as-middle-east-tensions-ease\/10\/28\/market-updates\/","title":{"rendered":"Oil Prices Slide Over 4% as Middle East Tensions Ease"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>Oil prices fell sharply on Monday, with both Brent and U.S. West Texas Intermediate (WTI) crude futures dropping over 4% after Israel&#8217;s weekend strike on Iran bypassed key oil and nuclear facilities. This less severe escalation eased concerns about disruptions to Middle Eastern energy supplies, leading to a price drop.<\/p>\n\n\n\n<p>At the open, both benchmarks hit their lowest levels since October 1, with Brent down $3.35 (4.4%) at $72.70 per barrel and WTI down $3.27 (4.6%) at $68.51 per barrel as of 01:39 GMT. Last week, oil prices had gained 4% amid volatile trading, largely due to the uncertainty around the October 1 Iranian missile attack and the upcoming U.S. elections.<\/p>\n\n\n\n<p>The recent wave of Israeli strikes targeted missile factories and other sites in Iran, sparking renewed focus on potential de-escalation talks. Analysts, including Commonwealth Bank of Australia&#8217;s Vivek Dhar, suggested that market focus may now shift toward ongoing ceasefire discussions between Israel and Hamas, potentially reducing geopolitical risk premiums on oil.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices fell sharply on Monday, with both Brent and U.S. West Texas Intermediate (WTI) crude futures dropping over 4% after Israel&#8217;s weekend strike on Iran bypassed key oil and nuclear facilities. This less severe escalation eased concerns about disruptions to Middle Eastern energy supplies, leading to a price drop. At the open, both benchmarks &hellip;<\/p>\n","protected":false},"author":9,"featured_media":103776,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[10587,10035],"class_list":["post-107534","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-middle-east-tensions","tag-us-oil-inventories"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/107534","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=107534"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/107534\/revisions"}],"predecessor-version":[{"id":107535,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/107534\/revisions\/107535"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/103776"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=107534"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=107534"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=107534"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}