Oil prices drop before the United States announced that Israel and Lebanon have agreed to a ceasefire.

After three consecutive days of rise, oil prices have fallen. Earlier, the United States stated that Israel and Lebanon have agreed to a ceasefire, which will eliminate a key obstacle in Washington's negotiations with Tehran. WTI crude oil prices fell to around $95 per barrel, with cumulative gains of nearly 10% in the first three trading days of the week; while Brent crude closed at around $98 per barrel on Wednesday. The U.S. State Department stated: "The precondition for the ceasefire is that Hezbollah completely stops firing and withdraws all Hezbollah personnel from the area south of the Litani River."