Oil prices are still declining in the midst of expectations of a displayed and easy to end the Gaza War

Oil prices fell for the second consecutive day, with the market focusing on expectations in the global offer, and signs of diplomatic efforts to end the war in Gaza, which could reduce the geopolitical risk obligations in prices. Brent ruol dropped to below $ 68 a barrel after falling 3.1% on Monday, in the largest daily fall in about two months, while the intermediate rough of Western Texas was distributed near $ 63. The “OPEC+” coalition meets Sunday, as it is likely that there is likely to be agreed upon a limited increase in production for the month of November, at the same rate approved in October. A Peace Plan … But the ambiguity continues in a related context, the United States and Israel agreed on a 20 -toot -clan plan to end the war in Gaza, but the chances of bringing peace are still unclear in the absence of a direct participation of Hamas. US President Donald Trump said the framework has the support of other leaders in the Middle East. Read Trump: Netanyahu agreed to the plan to end the war in Gaza. We are awaiting Hamas’s response and oil prices rose earlier last week, with customers covering the open centers in anticipation of a possible escalation targeting the Russian energy infrastructure through Ukraine. Despite the pressure, oil futures are still on their way to a slight monthly loss, but this has relatively resisted the successive increase in supplies by OPEC+. Standard vacuum blowing on the horizon and the International Energy Agency expects the resumption of the supplies stopped from the “OPEC+” countries, as well as production from outside the group, will contribute to a standard vaccination in the offer next year. Some observers believe that Brent -ruol can fall to the 1950s. “Our data clearly indicates that the market no longer needs supplies,” “Ang” analysts wrote, led by Warren Patterson.