Oil Little Changed as Investors Focus on Gaza Deal

Core Viewpoint - Oil prices remained stable as investors focused on a potential peace deal in Gaza that may reduce geopolitical risks in the Middle East [1] Group 1: Oil Market Reaction - Brent crude and WTI prices increased by 0.3%, reaching $62.19 and $66.43 per barrel, respectively, after initially opening lower [1] - The immediate effect on oil markets is expected to be a slight decrease in the geopolitical risk premium, estimated at about 1%-2% of the current Brent price [2] Group 2: Long-term Implications - If the peace plan proves credible and leads to stable peace, its impact on oil prices could be more structural and profound [2]