According to an opinion article by analysts at Quantum Commodity Intelligence, oil prices in Asia fell during early trading as a ceasefire protocol between Israel and Hezbollah approached. Analysts pointed out that media reports stated that Israeli Prime Minister Benjamin Netanyahu 'principally' approved the ceasefire protocol proposed by Hezbollah during a security consultation with Israeli officials on Sunday night. South China Futures analysts stated in an opinion article that the oil fundamentals were relatively stable and investors would follow the outcome of this week's OPEC meeting. WTI crude oil futures for near-month contracts fell 0.45% to $68.63 per barrel, while near-month Brent crude oil futures fell 0.4% to $72.73 per barrel.
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Institutions: Israel and Hezbollah are close to reaching a ceasefire, and oil prices are falling.
According to an opinion article by analysts at Quantum Commodity Intelligence, oil prices in Asia fell during early trading as a ceasefire protocol between Israel and Hezbollah approached. Analysts pointed out that media reports stated that Israeli Prime Minister Benjamin Netanyahu 'principally' approved the ceasefire protocol proposed by Hezbollah during a security consultation with Israeli officials on Sunday night. South China Futures analysts stated in an opinion article that the oil fundamentals were relatively stable and investors would follow the outcome of this week's OPEC meeting. WTI crude oil futures for near-month contracts fell 0.45% to $68.63 per barrel, while near-month Brent crude oil futures fell 0.4% to $72.73 per barrel.