Oil prices dropped as Gaza ceasefire talks eased geopolitical tensions and Tropical Storm Beryl approached US energy ports.
Oil prices fell as Gaza ceasefire talks eased geopolitical tensions, while investors assessed potential disruption to US energy supplies from Tropical Storm Beryl. Brent crude futures dropped 0.57% to $86.05 a barrel, while WTI dipped 0.76% to $82.53 a barrel. Talks over a US ceasefire plan aimed at ending the nine-month-old war in Gaza are under way, with Qatar and Egypt mediating. The ports of Corpus Christi, Houston, Galveston, Freeport, and Texas City closed in preparation for Hurricane Beryl, which is expected to make landfall in Texas.
July 07, 2024
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