11/3/2023, 3:50 PM (Source: TeleTrader)
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Oil falls over 1% after Hezbollah chief's remarks

The prices of oil futures traded with losses on Friday after Hezbollah Secretary-General Hassan Nasrallah's video appearance in which he didn't proclaim that the militant group would directly be joining the war between Israel and Hamas.

Hezbollah leader's speech seemingly cooled off crude prices, with supply concerns subsiding, as a greater escalation in the Middle East clashes doesn't seem to be in sight at present.

West Texas Intermediate (WTI) for deliveries in December lost 1.10% at 10:40 am ET and went for $81.52 per barrel. At the same time, Brent for January 2024 settlements declined 1.19% to sell for $85.72 per barrel.

Baha Breaking News (BBN) / AY