Oil prices steady as investors weigh up Gaza ceasefire signals

News Snapshot:

Oil prices were largely stable on Tuesday, as investors weighed up signals of a Gaza ceasefire against the reality on the ground in the Middle East. Brent crude futures fell 10 cents, or 0.12 per cent, to $82.43 a barrel by 0923 GMT, while U.S. West Texas Intermediate crude futures (WTI) were down 7 cents, or 0.09 per cent, to $77.51 a barrel. “Concerns around shipping disruptions in the Red Sea have supported a rebound in the price of crude oil overnight, offsetting a more hawkish Fed currently weighing on the demand side of the equation,” said Tony Sycamore, an...