Oil prices fall as tension in the Middle East eases
Oil prices fell by more than 1 percent in early Asian trading on Monday, as tension in the Middle East eased after Israel withdrew more of its soldiers from the southern Gaza Strip and pledged to hold new talks on a possible ceasefire in the six-month-old conflict.
Price action
Brent crude futures fell $1.4, or 1.55 percent, to $89.76 per barrel by 2253 GMT, after hitting the lowest level in the session at $88.78.
US West Texas Intermediate crude recorded $85.60 per barrel, down $1.31, or 1.5 percent, after falling to a low of $84.69.
Israel and Hamas sent two delegations to Egypt for new talks on a possible ceasefire before the Eid holiday, easing tensions in the Middle East that pushed oil prices up more than 4 percent last week on fears of supply disruptions.
The exchange rate of the dollar in Lebanon today, moment by moment
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