Crude futures fall as expectations of an imminent ceasefire agreement between Israel and Hezbollah takes some Middle East risk premium out of the market.
But "we have seen how ceasefires have failed to materialize in the past, so its best to take any ceasefire news cautiously," says Alex Hodes of StoneX in a note. Trade is apt to be volatile on lighter volume this week with the U.S. closed Thursday for Thanksgiving, he adds.
WTI settles down 3.2%, at $68.94 a barrel, and Brent loses 2.9%, to $73.01 a barrel.
Source: Marketwatch
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