Oil Prices Steady Amid Ceasefire and Upcoming OPEC+ Meeting.

London: Oil prices steadied today, as markets evaluated the potential effects of a ceasefire agreement between Lebanon and the Israeli entity, in anticipation of the upcoming OPEC+ meeting scheduled for Sunday. According to Oman News Agency, Brent crude futures saw a minor decrease, falling 2 cents to settle at $72.79 per barrel. Meanwhile, US West Texas Intermediate crude futures recorded a marginal drop of 4 cents, or 0.1 percent, bringing the price to $68.73 per barrel. OPEC+, which comprises the Organization of the Petroleum Exporting Countries and its allies, is considering a further postponement of an anticipated oil output increase that was originally set to commence in January 2025. This discussion comes ahead of a decisive meeting on December 1, where the group will determine their policy for early 2025.