The prices of oil futures declined by more than 1.5% on Tuesday after Qatari Prime Minister Mohammed bin Abdulrahman bin Jassim Al Thani said there had been “some progress” in the latest negotiations about a ceasefire and prisoner exchange between Israel and Hamas. Meanwhile, an Israeli official noted improvements, although not significant ones.
West Texas Intermediate (WTI) for June’s deliveries decreased by 1.56% at 4:56 am ET to sell for $61.06 per barrel. At that minute, Brent for the same month’s settlements dropped by 1.73% to go for $64.72 per barrel.