News Oil Updates – prices slip as investors eye Israel-Gaza truce talks, US Fed policy review

SINGAPORE: Oil edged down on Tuesday after Israel-Hamas ceasefire talks in Cairo helped quell market fears of an expanding conflict in the Middle East, while worries about the outlook for US interest rates dragged on the market, according to Reuters.

Brent crude futures dipped 19 cents, or 0.21 percent, to $88.21 a barrel at 9:30 a.m. Saudi time, while US West Texas Intermediate crude futures slipped 20 cents, or 0.24 percent, to $82.43 a barrel.

The front-month contract of both benchmarks lost more than 1 percent on Monday.

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