The first element of a plan to discontinue the war in Gaza was agreed upon by Israel and Hamas, which impacted on oil's war risk rate and caused investors to sell, causing oil prices to drop in early trading on Thursday 9th of October 2025. By “0002 GMT”, the price of Brent crude futures had …
The Middle East Risk Premium Declines As Oil Drops On The Gaza Plan.
The first element of a plan to discontinue the war in Gaza was agreed upon by Israel and Hamas, which impacted on oil’s war risk rate and caused investors to sell, causing oil prices to drop in early trading on Thursday 9th of October 2025.
By “0002 GMT”, the price of Brent crude futures had dropped “51 cents, or 0.77%, to $65.74” per barrel. At “$62”, US West Texas Intermediate dropped “55 cents, or 0.88%”.
As part of a plan to end the two-year-old conflict in the Palestinian enclave, US President Donald Trump announced that Israel and Hamas had struck a long-sought agreement for a truce in Gaza and the release of hostages. Benjamin Netanyahu, the prime minister of Israel, announced he will call a meeting of the government on Thursday to sign off on the ceasefire deal.
As investors saw slowly progress on a peace settlement in Ukraine as supporting restrictions against Russia, prices rose around “1%” on Wednesday to hit a one-week high.
As a stand-in for U.S. oil consumption, the total weekly supply of petroleum products in the United States increased last week to “21.990 million” barrels per day, the highest level since December 2022, according to an Energy Information Administration data released on Wednesday.
