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Crude Jumps Before Easing Back

OIL

Crude Jumped to a new intraday high of $79.45/b, but has eased back again, likely driven by continued difficulty in reaching a ceasefire agreement in Gaza.

  • Headlines circulating on social media indicate that the Israeli’s may not accept the counter proposal.
  • Hamas sent a counterproposal for a ceasefire after reviewing the initial proposal sent by the Qataris.
  • a senior Israeli official told News 13 that the current debate is whether to reject the demands outright - or to enter into negotiations in an attempt to soften them.
  • Brent APR 24 up 0.8% at 79.19$/bbl
  • WTI MAR 24 up 0.8% at 73.91$/bbl

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