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Nov 27, 2024
Possible Israel-Hezbollah Ceasefire Lowers Crude Oil Prices
Possible lower oil demand due to ceasefire leads to lower crude oil prices
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West Texas Intermediate crude fell 0.8% to $68.8 after a possible ceasefire agreement between Israel and Hezbollah. As CBS News reported, Biden is expected to announce it. Moreover, US Secretary of State Blinken said that efforts to stop the fighting in Lebanon are nearing the “finish line.” |
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