Crude oil prices slipped on Monday amidst renewed diplomatic efforts to spotlight and address the humanitarian concerns of the Middle East conflict. The drop in prices comes amidst a delay in a ground level attack that is feared to widen the scope of the conflict.
Brent Oil Futures for December settlement is currently trading at $91.96, having declined 0.22 percent from the previous close. The day’s trading ranged between $91.08 and $92.44, versus the 52-week trading that ranged between $70.06 and $99.56.
Brent Oil Futures had touched a high of $97.69 in the past month and a high of $93.79 after the outbreak of the conflict on October 7.
West Texas Intermediate Crude Oil Futures for December settlement also lost 0.36 percent from the previous close of $88.08 to trade at $87.76. Prices ranged between a high of $88.23 and a low of $86.84. The 52-week trading range was between $63.64 and $95.03.
WTI Crude had touched a high of $95.03 in the past month and a high of $90.78 after the outbreak of the conflict on October 7.