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Crude Rallies Back Up On Ceasefire Pessimism

OIL

Crude has risen back up to a new intra-day high supported by additional pessimism surrounding a Gaza ceasefire agreement, following a choppy session in European hours.

    • Brent MAY 24 up 0.6% at 82.67$/bbl
    • WTI APR 24 up 0.8% at 79.16$/bbl
  • Speaking briefly to reporters, US President Joe Biden when asked on the prospect of an Israel-Hamas ceasefire agreement says that 'hope springs eternal,' but that it is unlikely to start by Monday 4 March (previously raised by Biden as a target date).
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Crude has risen back up to a new intra-day high supported by additional pessimism surrounding a Gaza ceasefire agreement, following a choppy session in European hours.

    • Brent MAY 24 up 0.6% at 82.67$/bbl
    • WTI APR 24 up 0.8% at 79.16$/bbl
  • Speaking briefly to reporters, US President Joe Biden when asked on the prospect of an Israel-Hamas ceasefire agreement says that 'hope springs eternal,' but that it is unlikely to start by Monday 4 March (previously raised by Biden as a target date).