Oil Prices Ending On A High Note For Second Week In A Row

. Crude oil prices ended the day on a down note after Israel agreed to delay its planned attack on Gaza following pressure from the United States. But across the week, crude oil prices are still trading up—the second week in a row for price gains. The WTI crude oil benchmark was trading down $0.35 -0.39% at $89.02 per barrel near 500 pm ET as the market digested the news that Israel’s movements against Hamas would wait. Brent crude oil was trading down $0.13 -0.14% at $92.

Brent crude was trading at $90.89 this time last week. Tempering today’s prices was news that the United States would lift sanctions on Venezuela’s oil industry in exchange for the Maduro regime agreeing to hold elections next year. The U.S. Department of the Treasury issued general licenses authorizing transactions involving the oil and gas sector and removed the ban on secondary trading, the Treasury Department said this week.

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