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Oil Prices Dip on Talks of a Middle East Ceasefire

OilPrice.com Thursday, 26 September 2024 ()
Crude oil prices ticked slightly higher earlier today but soon reversed course as the United States, the European Union and several Arab nations called for a temporary ceasefire between Israel and Lebanon. In more bearish news, the Financial Times reported Saudi Arabia was ready to drop its oil price target of $100 per barrel and boost production to regain market share, according to unnamed sources. As regards the prospect of a ceasefire between Israel and Lebanon, “This is an important breakthrough on the Lebanon side, given all that has…
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