Brent crude futures dropped 90 cents to $90.27 a barrel by 1000 GMT, while U.S. West Texas Intermediate crude was down 86 cents to $86.05
Oil drifted lower on Monday after Israel withdrew more soldiers from Gaza and committed to fresh talks on a potential ceasefire in the six-month conflict in the Middle East.
Meanwhile, ceasefire talks were revived as Israel and Hamas sent teams to Egypt for talks ahead of the Eid holidays, though a Hamas official on Monday said no progress was made at a new round of talks. Investors will be scouring consumer price index data from the U.S. and China this week for further clues on the timing of possible Fed cuts and to gauge the economic health of the world’s top two oil consumers.
Energy Cent Gaza Israel Oil Talks Hamas Barrel Week John Evans Hamas Gaza
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