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Oil prices ease as aid convoys arrive in embattled Gaza Strip
Oil prices dipped as aid convoys arrived in Gaza, reducing concerns of a wider conflict in the oil-rich Middle East. Brent crude futures dropped to $91.56 a barrel, and US West Texas Intermediate crude futures fell to $87.47 a barrel. The fear of potential supply disruptions due to the Israel-Hamas conflict had caused prices to rise over the past week. The US has also suspended sanctions on Venezuela to ease supply pressure caused by output cuts from OPEC and its affiliates.
Oil prices dipped as aid convoys arrived in Gaza, reducing concerns of a wider conflict in the oil-rich Middle East. Brent crude futures dropped to $91.56 a barrel, and US West Texas Intermediate crude futures fell to $87.47 a barrel. The fear of potential supply disruptions due to the Israel-Hamas conflict had caused prices to rise over the past week. The US has also suspended sanctions on Venezuela to ease supply pressure caused by output cuts from OPEC and its affiliates. 
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