Crude oil futures fell Tuesday after President Joe Biden indicated {that a} ceasefire within the Israel-Hamas struggle may come within the subsequent week.
The West Texas Intermediate contract for April fell 17 cents, or 0.22%, to $77.41 a barrel. Brent April futures dropped 15 cents, or 0.18%, to $82.38 a barrel.
“My nationwide safety adviser tells me that we’re shut — shut however not accomplished but,” Biden advised reporters in New York Metropolis. “My hope is by subsequent Monday we can have a ceasefire.”
In a tv look, the president mentioned “there’s been an settlement by the Israelis that they’d not interact in actions throughout Ramadan as effectively so as to give us time to get all of the hostages out.”
However senior Hamas official downplayed hopes for a ceasefire until there may be an settlement that results in a everlasting finish to the preventing or the withdrawal of Israeli forces from Gaza.
“To this point, every part that’s being proposed right here and there doesn’t meet these situations,” Ahmed Abdel Hadi advised Lebanon’s Al Mayadeen TV channel. “Due to this fact, we aren’t involved with coping with every part that’s offered as a result of it doesn’t meet what I discussed.”