Oil prices rise on Israel-Hamas ceasefire hopes

Oil prices edged higher on Tuesday, after hopes diminished that negotiations between Israel and Hamas would lead to a ceasefire in Gaza, and on Mexico’s plan to remove more crude from the global market.

Brent crude futures rose 28 cents, or 0.31%, to $90.66 a barrel by 1002 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 24 cents or 0.28% at $86.67.

On Monday a fresh round of Israel-Hamas ceasefire discussions in Cairo had ended a multi-session rally, leading Brent to its first decline in five sessions and WTI to its first in seven on prospects for a breakthrough.

Challenger Energy Group plc (LON:CEG) is a Caribbean and Atlantic margin focused oil and gas company, with a range of petroleum assets located onshore in Trinidad and Tobago, and Suriname, and offshore in the waters of The Bahamas and Uruguay.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Challenger Energy

More articles like this

Challenger Energy unveils new offshore Uruguay prospects

Challenger Energy Group (CEG), the Isle of Man-based oil and gas company, is making significant strides in its offshore Uruguay exploration efforts. The latest reprocessing work on the AREA OFF-3 block has uncovered new exploration prospects,

Oil prices rebound as dollar weakens

Oil prices recovered on Tuesday amid a weaker dollar, but concerns over a U.S. recession and trade tariffs persisted. OPEC+ decision awaited.

Challenger Energy

Oil prices rebound amid trade war uncertainty

Oil prices rebounded from last week’s lows as trade war fears linger. Analysts weigh in on Trump’s tariff threats and global energy demand. Challenger Energy Group Plc (LON:CGE) remains active in Uruguay’s offshore exploration.

Challenger Energy

Advancing exploration in a transforming energy sector

As the global oil and gas industry undergoes a transformative shift, key trends are shaping its future. From technological innovations to policy shifts and offshore investment, the sector is evolving rapidly. Learn how Challenger Energy Group PLC is strategically positioned amidst these changes.