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Headline : Oil prices rise as Rafah strike complicates Israel-Hamas ceasefire talks

Read more from the original article on here at ng.investing.com.





Tags : #oil #prices #rise #rafah #strike #complicates #israelhamas #ceasefire #talks


No. of Paragraph 12

Investing.com-- Oil prices rose in Asian trade on Tuesday amid growing doubts that talks between Israel and Hamas will yield a ceasefire, especially after an Israeli strike on the city of Rafah in Southern Gaza. 

Prices extended a recovery from lows hit last week, amid concerns over sluggish demand and less tight supplies. But the Israeli strike, which took place over the weekend, saw some risk premium creep back into oil markets.

Brent oil futures expiring in July rose 0.5% to $83.73 a barrel, while West Texas Intermediate crude futures rose 0.6% to $78.56 a barrel by 20:52 ET (00:52 GMT). 

Hamas had reportedly agreed to a proposal for a Gaza ceasefire from mediators in Egypt. But Israel said the deal did not meet its demands, and kept up its strikes in Rafah. 

Read more from the original article on here at ng.investing.com.


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