E-Paper | May 12, 2026

Oil set for third weekly decline, pressured by Gaza ceasefire hopes

Published July 26, 2024
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Oil prices were little changed but on track for a third consecutive weekly decline, pressured by muted demand in China and expectations of a Gaza ceasefire deal that could ease Middle East tensions and accompanying supply concerns, Reuters reports.

Brent LCOc1 crude futures for September dipped 1 cent to $82.36 a barrel by 0744 GMT. US West Texas Intermediate crude for September CLc1 fell 6 cents to $78.22.

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