Oil Prices: Geopolitical risk premiums due to the Israel-Hamas war, which had kept prices high due to global supply risks, are also fading, with Israel and Hamas considering a temporary ceasefire and holding talks with international mediators.
The United States and Saudi Arabia are said to be nearing a pact that would offer the kingdom security guarantees and lay out a possible pathway to diplomatic ties with Israel if it brings the war in Gaza to an end.
The global oil market is facing a confluence of factors theseanation.gr - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theseanation.gr Daily Mail and Mail on Sunday newspapers.
Natural Gas Prices: Results at oil and gas firms are still retreating from record levels in 2022 that were boosted by a surge in demand after the COVID-19 pandemic and then when prices spiked after Russia invaded Ukraine.