<\/p>\n\n\n\n
Oil prices found stability on Friday, with Brent crude hovering above the $85 per barrel mark, buoyed by growing optimism about a potential ceasefire in Gaza.<\/p>\n\n\n\n
Brent crude futures remained virtually unchanged at $85.76 per barrel, while US West Texas Intermediate crude futures edged up slightly to $81.08 per barrel by 1017 GMT.<\/p>\n\n\n\n
The prospect of a ceasefire in Gaza has been gaining momentum, with US Secretary of State Anthony Blinken expressing confidence in talks held in Qatar to broker an agreement between Israel and Hamas.<\/p>\n\n\n\n
The situation in Ukraine also influenced market sentiment, as Russia reportedly launched a significant missile and drone attack on the country’s energy infrastructure. This development has raised concerns about potential disruptions to global oil supply.<\/p>\n\n\n\n
Meanwhile, in the United States, gasoline product supplies dropped below nine million barrels for the first time in three weeks, signaling a potential slowdown in crude oil demand.<\/p>\n\n\n\n
The strengthening of the US dollar, driven by the Swiss National Bank’s unexpected interest rate cut, added further pressure on oil prices. A stronger dollar typically makes oil more expensive for buyers using other currencies.<\/p>\n\n\n\n
Overall, while geopolitical tensions and supply concerns persist, the outlook for oil prices remains uncertain, with market participants closely monitoring developments in Gaza and Ukraine.<\/p>\n","protected":false},"excerpt":{"rendered":"
Oil prices found stability on Friday, with Brent crude hovering above the $85 per barrel mark, buoyed by growing optimism about a potential ceasefire in Gaza. Brent crude futures remained virtually unchanged at $85.76 per barrel, while US West Texas Intermediate crude futures edged up slightly to $81.08 per barrel by 1017 GMT. The prospect …<\/p>\n","protected":false},"author":9,"featured_media":95641,"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":[9851,8159,6944,6876,8532,6909],"class_list":["post-99013","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-api-data","tag-crude-oil-prices","tag-eia","tag-opec","tag-supply-concerns","tag-wti"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/99013","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=99013"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/99013\/revisions"}],"predecessor-version":[{"id":99014,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/99013\/revisions\/99014"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/95641"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=99013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=99013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=99013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}