Oil up 2% on Gaza ceasefire rejection and U.S. stock data
Thu, Feb 8, 2024 9:38 PM

Oil up 2% on Gaza ceasefire rejection and U.S. stock data

A Flip by Shubhangi Gupta
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Oil prices rose over 2% on Thursday due to Israel rejecting a ceasefire offer from Hamas and unexpected drops in U.S. fuel stocks. Brent crude breached $80 a barrel for the first time since Feb. 1, with U.S. WTI also seeing gains. Diplomatic efforts continue, and refinery maintenance in the U.S. and Europe's diesel shortage are helping to maintain positive sentiment.

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