KONTAN.CO.ID - BEIJING. Oil prices ticked up early on Tuesday after Israel struck Rafah in Gaza while negotiations for a ceasefire with Hamas continued without resolution. Brent crude futures LCOc1 were up 46 cents, or 0.55%, at $83.79 per barrel at 0010 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 futures rose 46 cents, or 0.59%, to $78.94 a barrel. Prices had edged upward on Monday, partially reversing the declines of last week in which both contracts posted their steepest weekly loss in three months, with the focus on weak U.S. jobs data and the possible timing of a Federal Reserve interest rate cut.
Oil Edges Up After Israel Strikes Gaza, While Truce Talks Continue
KONTAN.CO.ID - BEIJING. Oil prices ticked up early on Tuesday after Israel struck Rafah in Gaza while negotiations for a ceasefire with Hamas continued without resolution. Brent crude futures LCOc1 were up 46 cents, or 0.55%, at $83.79 per barrel at 0010 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 futures rose 46 cents, or 0.59%, to $78.94 a barrel. Prices had edged upward on Monday, partially reversing the declines of last week in which both contracts posted their steepest weekly loss in three months, with the focus on weak U.S. jobs data and the possible timing of a Federal Reserve interest rate cut.