Oil prices fell in early trade after Israel approved the U.S.-brokered deal for a cease-fire and hostage release in Gaza.
“This presents a major step toward ending the two-year war that raised the risk of supply disruptions in the oil market,” analysts at ANZ Research said.
Brent crude and WTI were both down 0.5% to $64.88 and $60.76 a barrel, respectively, after settling 1.6% lower in the previous session.
