March WTI crude oil (CLH24) on Thursday closed down -2.03 (-2.68%), and Mar RBOB gasoline (RBH24) closed down -3.64 (-1.63%).
Crude oil and gasoline prices on Thursday gave up an early advance and sold off, with crude falling to a 1-week low and gasoline falling to a 2-week low. Crude prices retreated after Al Jazeera reported that Israel had agreed to a ceasefire. However, Bloomberg reported that there was not yet a ceasefire agreement but that negotiations are advancing to pause the Israel-Hamas conflict and free civilian hostages captured by Hamas.
