Ceasefire hopes have risen following Israel's recent acceptance of a US bridging proposal. Hamas, however, has yet to do the same.
Oil prices dropped close to their lowest levels in 2024 on Tuesday morning, following increased hopes of a ceasefire in the Israel-Hamas war.
Brent crude oil prices inched down 1.03% to $76.8 per barrel…
KEY TAKEWAYS
A decision by OPEC+ to possibly boost production sooner than expected and diverging demand forecasts could hold oil prices down in the second half of the year.
The U.S. Energy Information Administration recently lowered projections for Brent crude oil prices this year. The International Energy Agency also cut its demand forecast.
For consumers,…