hopes on peace talks - oil prices dropped
hopes on peace talks - oil prices dropped
Fuel prices in Sri Lanka is too high compared to what we have five years back. It has exceeded the effect of inflation. We can't blame the war always, it has been wars in Middle East from our childhood. But again some positive news after some time.
Oil prices fell on Thursday, paring gains made a day earlier, as hopes for peace talks took the edge off renewed concerns over Middle East supply disruptions from escalating regional conflict.Brent crude futures declined 85 cents, or 0.7%, to $114.47 a barrel by 0720 GMT. US West Texas Intermediate (WTI) crude futures were down $1.13, or 1.1%, at $101.65.Brent rose 1.3% and WTI gained 3% on Wednesday.US Vice President JD Vance sought to revive peace negotiations by sending a letter to Iranian Security Council chief Mohsen Rezaei, the Wall Street Journal said on Wednesday, citing US officials and people familiar with the matter."Selling pressure is prevailing amid expectations that peace talks may resume," said Yuki Takashima, an economist at Nomura Securities. "However, the decline remains limited."This was due to concerns over intensified attacks by the Houthis and fears the US may launch an attack on Iran following its midterm elections set for November 3.The Saudi-led coalition fighting Yemen's Houthis said it destroyed a ballistic missile fired by the group towards the kingdom's eastern region early on Thursday, as hostilities between the two sides show no signs of abating.The Houthis attacked Aden airport on Wednesday, Yemeni government forces said. source