Crude oil slides more than $1 a barrel amid Gaza ceasefire hopes

Brent crude futures fell by 1.8% to $89.57 a barrel as investors focus on Israel’s decision to withdraw more troops from southern Gaza

The decline in oil prices should be modest until it becomes clear how Iran will respond to the bombing of its consulate in Syria last week. 

Crude oil prices fell by over $1 a barrel after Israel reduced its troops in southern Gaza and began a fresh round of ceasefire talks with Hamas.

Brent crude futures fell $1.60, or 1.8%, to $89.57 a barrel, with investors focusing on Israel’s decision to withdraw more soldiers from southern Gaza on Sunday.