PT Solid Gold Berjangka | WTI Oil Closes Down as Israel Holds Back on a Ground Invasion of Gaza as Diplomatic Efforts Continue
SOLID GOLD BERJANGKA | West Texas Intermediate (WTI) crude oil closed down 2.9% on Monday with worries over a widening war in the Middle East easing as Israel holds back on an invasion of Gaza even as it continues its war on Hamas.
WTI crude oil for December delivery closed down US$2.59 to settle at US$85.49 per barrel, while December Brent crude, the global benchmark, was last seen down US$2.22 to US$89.94.
The drop comes as international efforts to protect and succor Gaza citizens and free hostages continue amid a rising Israeli bombardment of the territory, after water, power and food for Gaza’s two-million citizens was cut off following terror attacks on Israel from Hamas militias earlier this month that killed hundreds of civilians.
Israel is also fighting with the Iran-backed Hezbollah militia across its border with Lebanon but the war has yet to spread into other areas of the Middle East or disrupt oil production in the region.
“Crude oil prices ended lower on Friday but recorded a second consecutive weekly gain as the risk of supply disruptions hangs over the market. But risk sentiment seems to be taking a breather for now, as Israel has delayed its ground invasion in Gaza amid hostage talks,” Saxo Bank noted.,
Source : MT Newswires, PT SGB, SOLID GROUP, SOLID GOLD BERJANGKA
Source : MT Newswires, PT SGB, SOLID GROUP, SOLID GOLD BERJANGKA
Source : MT Newswires, PT SGB, SOLID GROUP, SOLID GOLD BERJANGKA