Oil prices rose on Wednesday after two days of losses as a deadlock in Gaza ceasefire talks renewed uncertainty about the security of supply from the Middle East and offset a bigger-than-expected build in U.S. crude inventories.
Hamas said on Tuesday that an Israeli proposal on a ceasefire in the war in Gaza did not meet the demands of Palestinian militant factions, but it would study the offer further and deliver its response to mediators. The EIA said it expects Brent crude prices to average $88.55 a barrel in 2024, up from a previous forecast of $87, and it upgraded its demand growth forecast for the past two years.
Oilprice Cent Bpd Forecast United States Ceasefire Strait Israel Gaza WTI EIA Strait Of Hormuz
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