{"id":70801,"date":"2024-10-25T20:37:36","date_gmt":"2024-10-25T20:37:36","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/oil-prices-steady-on-possible-new-gaza-cease-fire-talks"},"modified":"2024-10-25T21:18:32","modified_gmt":"2024-10-25T21:18:32","slug":"oil-prices-steady-on-possible-new-gaza-cease-fire-talks","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/oil-prices-steady-on-possible-new-gaza-cease-fire-talks","title":{"rendered":"Oil prices steady on possible new Gaza cease-fire talks"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Oil prices held steady on Friday with the possibility of a new round of Gaza cease-fire negotiations and despite supply concerns in the region triggered by Israel’s potential retaliation against Iran.<\/p>\n

The international oil benchmark of Brent crude rose 0.05% to $74.31 per barrel at 10.34 am local time (0734 GMT), up from the previous session’s close of $74.27.<\/p>\n

The US benchmark West Texas Intermediate increased by 0.08% to $70.35 per barrel, compared to $70.29 at the prior session’s close.<\/p>\n

Israel’s public broadcaster KAN claimed Wednesday that Israel is on the verge of attacking Iran, despite US pressure to ease the offensive.<\/p>\n

Oil traders are now waiting for Israel’s response to Iran’s ballistic missile attack that may involve hitting Tehran’s oil infrastructure, although reports said Israel would only strike Iranian military targets.<\/p>\n

Meanwhile, traders continued to pare back geopolitical risk premiums amid the Gaza cease-fire talks following Qatar’s announcement of hosting a new round of negotiations.<\/p>\n

“Two US and Israeli delegations will visit Doha to discuss ways to make a breakthrough in the Gaza cease-fire negotiations,” Qatari Prime Minister Mohammed bin Abdelrahman Al Thani said on Thursday at a joint press conference with US Secretary of State Antony Blinken.<\/p>\n

Blinken, for his part, said Gaza cease-fire talks are expected to resume in the coming days.<\/p>\n

Israeli Prime Minister Benjamin Netanyahu approved the Israeli negotiating delegation that will travel to Qatar on Sunday to discuss the possibility of progressing Gaza negotiations.<\/p>\n

On the demand side, investors are eyeing more clarity on the oil demand outlook in the world’s largest oil consumers, the US and China.<\/p>\n

For More News And Analysis About Mozambique Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. Oil prices held steady on Friday with the possibility of a new round of Gaza cease-fire negotiations and despite supply concerns in the region triggered by Israel’s potential retaliation against Iran. 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