Commodities
Oil Falls on Anticipation of Israel-Hezbollah Cease-Fire Deal
- Israel to vote on agreement Tuesday night, Netanyahu says
- OPEC+ set to meet Dec. 1 to discuss production plans
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Oil fell on anticipation that Israel and Lebanon-based Hezbollah would reach a cease-fire agreement, a deal that was announced after futures settled and which was expected to reduce the threat to crude flows from the Middle East.
West Texas Intermediate edged lower to settle beneath $69 a barrel, while Brent settled below $73. Both benchmarks had risen earlier in the session after Bloomberg reported key OPEC+ nations are discussing delaying planned production increases.