SINGAPORE: Oil prices fell on Wednesday after industry data showed U.S. crude inventories swelled more than expected, though declines were capped as the market watched diplomatic efforts in the Middle East after Israel continued attacks on Gaza and Lebanon.
Blinken held"extended conversations" with Israeli Prime Minister Benjamin Netanyahu and senior Israeli leaders, urging them to get more humanitarian aid into Gaza, a senior State Department official said. "Market participants priced for the Middle East conflict to drag for longer, with a ceasefire deal potentially seeing some gridlock," said Yeap Jun Rong, market strategist at IG.
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