MarketPR
Oil prices slipped into negative territory for the session after Israel and Iran-backed Hezbollah agreed to a ceasefire, set to take effect at 4 p.m.
The deal peeled away some of the geopolitical risk premium that conflict in the region had been lending to crude, and markets moved lower on the news.
The Agreement Israel and Hezbollah — the militant group backed by Iran — agreed to halt hostilities beginning Friday afternoon local time, according to a U.S.
The deal represents a significant shift in an active conflict playing out in a region that sits close to some of the world's most consequential energy corridors.
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