Crude Oil Futures Plunge as False Ceasefire Theories Drive Market Speculation

Crude oil futures fell more than 2% in US time. False theories grew that Israel had agreed to offer a ceasefire in Gaza. Image provided (2024 Reuters)

[ニューヨーク １日 ロイター] – Crude oil futures fell more than 2% in US time. False theories grew that Israel had agreed to offer a ceasefire in Gaza.

According to a Qatari government official, the Palestinian Islamic group Hamas is positively considering stopping the hostilities offered by four countries, including Egypt and Qatar, but has not yet responded.

Brent futures fell $1.85 (2.5%) to $78.70 a barrel, while US WTI futures fell $2.03 (2.7%) to $73.82.

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New York reporter covering the US crude market and member of the energy team since 2018 covering the oil and fuel markets as well as federal policy regarding renewable fuels.

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