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Crude Plummets on Ceasefire Headline

OIL

Crude has plummeted to its lowest since Jan. 24 to eliminate all gains on the day, following a headline from Al Jazeera that suggests Israel has agreed to a ceasefire and Hamas seems supportive.

  • Brent APR 24 down -1.7% at 79.19$/bbl
  • WTI MAR 24 down -1.8% at 74.52$/bbl
  • The headline said: “Qatari Foreign Ministry: Israel agreed to the ceasefire proposal and we have initial positive confirmation from Hamas
  • The JPost is reporting that Hamas has given inital approval for a Gazag ceasfire, hostage deal, citing the Qatari foreign minister.

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