Crude oil steadies after gains, Israel-Gaza ceasefire talks in focus
Oil prices held broadly steady on Tuesday as investors waited to see whether a Middle East trip by top U.S. diplomat Antony Blinken will bring a halt to the Gaza war, which has raised concerns about supplies from the major producing region.
Brent crude futures dipped 8 cents to $77.91 a barrel by 0914 GMT, while U.S. West Texas Intermediate crude futures fell 13 cents to $72.65. Both contracts gained nearly 1% on Monday, rising for the first time in four sessions.
“The signs of de-escalation in the Middle-Eastern crisis are missing and continue to extend some support to ailing oil prices,” said Phillip Nova senior market analyst Priyanka Sachdeva.
