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US oil contract WTI drops below $60 after Gaza ceasefire

World News

10-10-2025 | 08:41

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US oil contract WTI drops below $60 after Gaza ceasefire

The U.S. benchmark oil contract, WTI, traded under $60 per barrel on Friday after a ceasefire in Gaza came into effect and as the market is weighed by greater supply.

West Texas Intermediate slid 2.8 percent to $59.78 per barrel, while Brent crude, the international benchmark, tumbled 2.7 percent to $63.47.

AFP

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