Oil prices fall amid reports of a truce agreement in Gaza

Oil prices dropped from the highest level in five months, after the news of Hamas and Israel temporarily agreed to the ceasefire, which led to the calm in fear of Russian and Iranian supplies. Brent -Rew falls March delivery by 1.3% to settle at $ 79.92 a barrel, and the center of the Western Texas -Rough “rough fell by 1.7%, stable at $ 77.50 a barrel. Monthly, for future prices, which already indicates that the consultants of the trading of basic commodities will not add any future contracts of the “West Texas” mediator, suggesting that the need for the high risk of offering to the fines of Joe Biden’s farewell to Russia’s oil will support the impact of the US standard indexes. Delivery has risen in the largest amount in the months of Monday, in response to the US sanctions that share about 160 tankers to the oil trade of Russia. Although the complete impact of the recent penalty package is still unclear, it can lead to the redirection of global flow, as users across Asia, including refineries in India and China, are forced to search for alternative vessels. Some early signs of the disorder are already clear. A senior official in the Indian government told reporters that ships subjected to sanctions will not be allowed to download the ports, although state relieents owned in the country expect Moscow to find alternative solutions to deliver it to its destination. The possibility of continuing Russian oil to achieve its intended destinations reduces some concerns about breaking the offer. “Crude oil dealers take a break to evaluate information before making a decision on whether they will strive for more prices,” Skidate Wealth Group said. Meanwhile, Alberta Prime Minister Daniel Smith warned that the customs definitions imposed by Donald Trump will not exclude oil after meeting with the US president in Florida. More than half of the United States’ import of crude oil comes from Canada, most of them come from Alberta.