Crude oil futures settled at $90.38. This represents a decrease of -$0.79 or -0.87%.
The highest price of the day reached $87.07. The low price was $84.72.
Prices fell on hopes of a reduction in tensions in Israel. The United States said a new hostage release proposal had been presented to Hamas. Hamas later rejected the ceasefire proposal (which I assume is the same thing. The White House also said the Israelis assured them there would be no operation major military operation in Rafah before meeting on this subject to exchange ideas.
However, there was a later report that Israeli Prime Minister Netanyahu had said that a date had been set for an invasion of Rafah in Gaza.
The White House later said it had not been informed of the date of the Israeli invasion of Rafah.
It goes without saying that the situation is still very fluid and that this has an upward and downward influence on the price of crude oil.
cnbctv18-forexlive
