Oil prices rose on Tuesday after falling more than $2 a barrel in the previous session as investors took stock of a potential ceasefire between Israel and Lebanon's Hezbollah, which had weighed on oil's risk premium.

Natural gas gains ground as traders switch from December 2024 contract to January 2025 contract. From the technical point of view, natural gas needs to settle above the $3.60 level to gain additional momentum. WTI oil pulls back as Israel’s Netanyahu says that he is ready to implement the ceasefire deal.

Oil prices declined over USD2 a barrel on Monday following several reports that Israel and Lebanon had approved to the policies of an agreement to fi

Oil prices fell more than $2 a barrel on Monday after multiple reports that Israel and Lebanon had agreed to the terms of a deal to end the Israel-Hezbollah conflict, citing unnamed senior U.S. officials.

U.S. President Joe Biden announced the ceasefire deal on Tuesday. The agreement will see Israeli forces withdraw from Lebanon within 60 days, while Hezbollah will move its forces away from the area between the “Blue Line,” the unofficial border between Lebanon and Israel.

Oil prices rose on Tuesday, steadying after falling more than $2 a barrel in the previous session on reports of a potential ceasefire between Israel and Lebanon's Hezbollah. Brent crude futures were up 53 cents,

OIL prices fell more US$2 on Monday (Nov 25) after multiple reports that Israel and Lebanon had agreed to the terms of a deal to end the Israel-Hizbollah conflict, citing unnamed senior US officials.

The Israeli ambassador to Washington says that a ceasefire deal to end fighting between Israel and the Lebanon-based Hezbollah could be reached “within days.”

The ceasefire between Israel and Lebanon’s Hezbollah militants has begun as a region on edge wonders whether it will hold. Israel has said it will attack if Hezbollah breaks the ceasefire agreement, which was announced Tuesday.