Nymex Overview: Oil Eases as Market Assesses Geopolitical Risks, Gaza Deal -- OPIS

Crude oil contracts were moderately lower in Thursday midday trade, on track to halt a four-session rise as traders weighed the latest peace deal in Gaza brokered by the Trump administration that would also release all Israeli hostages. At 12:10 p.m. ET, November NYMEX West Texas Intermediate was down 55cts to about $62/bbl and December WTI was also lower by the same amount to $61.50/bbl. London-based December ICE Brent was 55cts lower to around $65.7/bbl and January Brent was down 50cts to $65.15/bbl. Both oil benchmarks are on track to break a four-session increase following a smaller-than-expected production-increase decision by OPEC and allied nations in November. November NYMEX RBOB was down 1.15ct to $1.8975/gal and December RBOB was 1ct lower to $1.851/gal. November ULSD was up 0.3ct to $2.2935/gal and December ULSD was 0.1ct higher to $2.2755/gal. Petroleum traders are closely monitoring a potential diplomatic breakthrough in the Middle East after months of failed talks between Israel and Hamas. On Thursday, Israel's government was set to vote on an agreement that would free the remaining hostages held by Hamas and establish a ceasefire in Gaza. A 0.5% increase in the U.S. dollar index also decreased buying appetite. A stronger greenback makes the dollar-denominated crude contracts more expensive for non-U.S. investors. In the spot market, Pacific Northwest sub-octane spot prices fell about 12cts in midday trade, weighed down by a recent surge in gasoline imports into the West Coast and plentiful supply in the region following a recent outage of BP's Olympic product pipeline. This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal. --Reporting by Frank Tang, ftang@opisnet.com; Editing by Michael Kelly, mkelly@opisnet.com

Nymex Overview: Oil Eases as Market Assesses Geopolitical Risks, Gaza Deal -- OPIS

Інші новини компанії