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OIL: Crude Sinks Further as Israel Approves Ceasefire

OIL
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Crude is falling to new intraday lows after Israel approved a ceasefire proposal stop the fighting against Hezbollah, according to Media reports.

  • WTI JAN 25 down 1% at 68.23$/bbl
  • WTI has fallen to its lowest level since Nov. 18.
  • While the news is likely to help remove the risk premium from oil, Bloomberg headlines showing comments from Netenyahu will keep some waiting cautiously to see how it materialises
  • *NETANYAHU SAYS WAR WON'T END UNTIL RESIDENTS RETURN TO NORTH – bbg
  • *NETANYAHU: DETERMINED TO PREVENT IRAN FROM HAVING NUCLEAR ARMS - bbg
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Crude is falling to new intraday lows after Israel approved a ceasefire proposal stop the fighting against Hezbollah, according to Media reports.

  • WTI JAN 25 down 1% at 68.23$/bbl
  • WTI has fallen to its lowest level since Nov. 18.
  • While the news is likely to help remove the risk premium from oil, Bloomberg headlines showing comments from Netenyahu will keep some waiting cautiously to see how it materialises
  • *NETANYAHU SAYS WAR WON'T END UNTIL RESIDENTS RETURN TO NORTH – bbg
  • *NETANYAHU: DETERMINED TO PREVENT IRAN FROM HAVING NUCLEAR ARMS - bbg