“Oil prices rose after Israel and Lebanon’s Hezbollah group traded accusations of violating a ceasefire and OPEC+ postponed a meeting likely to agree to further output cuts.”, — write: epravda.com.ua
Oil prices rose after Israel and Lebanon’s Hezbollah group traded accusations of violating a ceasefire and OPEC+ postponed a meeting likely to agree to further output cuts. This is reported by Reuters. Brent crude futures were up 30 cents, or 0.4%, at $73.10 a barrel, while U.S. West Texas Intermediate crude futures were up 23 cents, or 0 .3%, to $68.95. The Israeli military said Thursday that the ceasefire had been violated after what it said were suspects, some in vehicles, arrived in several areas in the southern zone. The Middle East is one of the world’s largest oil-producing regions, and while the ongoing conflict has not yet affected supplies, it has weighed on traders’ risk premiums.Advertisement: At the time, OPEC+, which includes oil-exporting countries and their allies, including Russia, postponed a political meeting scheduled for December 1 to December 5 to avoid a conflict with another event.Advertisement: At this meetings plan to again delay the increase in oil production to support prices. The OPEC+ group, which provides about half of the world’s oil production, continues to cut output to stabilize prices. We will remind: On Tuesday, the Israeli government approved an agreement on the cessation of hostilities with the Hezbollah group in Lebanon.
