Hopes of a Gaza Ceasefire Are Putting Oil Prices Under Pressure

Renewed hopes of a ceasefire in Gaza and U.S. efforts to halt Ukrainian attacks on Russian refineries have added some downward pressure to oil prices. Despite this downward pressure, bullish sentiment continues to build in oil markets.Friday, March 22nd 2024A potential ceasefire in Gaza is back on the agenda again, creating some downward momentum for ICE Brent as it slid back to $85 per barrel, whilst reports of the US urging Ukraine to halt strikes on Russian refineries will most probably curb another facet of geopolitical risk. Despite the downward…