U.S. President Joe Biden speaks in the course of the annual Nationwide Prayer Breakfast on the U.S. Capitol in Washington, D.C., U.S., February 1, 2024.
Evelyn Hockstein | Reuters
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Crude oil futures fell Tuesday after President Joe Biden indicated {that a} ceasefire within the Israel-Hamas conflict 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 carried out but,” Biden advised reporters in New York Metropolis. “My hope is by subsequent Monday we could have a ceasefire.”
In a tv look, the president mentioned “there’s been an settlement by the Israelis that they’d not have interaction in actions throughout Ramadan as properly so as to give us time to get all of the hostages out.”
However senior Hamas official downplayed hopes for a ceasefire until there’s an settlement that results in a everlasting finish to the preventing or the withdrawal of Israeli forces from Gaza.
“To this point, every little thing that’s being proposed right here and there doesn’t meet these circumstances,” Ahmed Abdel Hadi advised Lebanon’s Al Mayadeen TV channel. “Due to this fact, we’re not involved with coping with every little thing that’s introduced as a result of it doesn’t meet what I discussed.”
