Oil Updates – prices ease on possible Gaza ceasefire, dollar strength
- Date: 22-Mar-2024
- Source: Arab News
- Sector:Oil & Gas
- Country:Saudi Arabia
Oil Updates – prices ease on possible Gaza ceasefire, dollar strength
SINGAPORE: Oil prices slipped on Friday on the possibility of a nearing Gaza ceasefire that could ease geopolitical concerns in the Middle East, while a stronger dollar and faltering US gasoline demand also weighed on prices, according to Reuters.
Brent crude futures fell 42 cents, or 0.5 percent, to $85.36 a barrel by 5:03 a.m. Saudi time. US crude futures shed 40 cents, or 0.5 percent, to $80.67 per barrel.
Both contracts are set to end the week little changed after rising more than 3 percent last week. Oil Updates – prices ease on possible Gaza ceasefire, dollar strength