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November 25, 2024 – 21:56
New York, Nov 25 (EFE).- The price of Texas intermediate oil (WTI) closed this Monday with a drop of 3.2%, to $68.94 per barrel due to a possible truce between Israel and Hezbollah in Lebanon.
At the end of today’s session, WTI futures contracts for delivery in January, the new reference month, fell $2.30 compared to the previous day’s close.
The US benchmark crude oil thus lost part of last week’s appreciation of 6.4%, attributed to the escalation of the war between Russia and Ukraine and its consequences on energy supplies in Europe.
According to specialized media, positive reports on the negotiation between Israel and the Lebanese Shiite group Hezbollah on a ceasefire in Lebanon were influential today, which is expected to result in an agreement tomorrow.
On the other hand, analysts pointed out that in recent years the market operated downwards this week in November, which is marked by the Thanksgiving holiday in the United States, on Thursday.
The market is also awaiting the next meeting of OPEC and its allies next Sunday, where they will discuss their policy for 2025 and make a decision on their increase in production.
In other markets, natural gas contracts for delivery in December rose to $3.41 per thousand cubic feet, and gasoline contracts for the same period fell to $1.99 per gallon. EFE
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Considering both Dr. Carter’s long-term perspective on global energy trends and Mr. Miller’s observations on cyclical price trends, what are the most significant factors likely to shape oil prices in the coming months?
## World Today News Exclusive: Oil Prices Dip Amidst Geopolitical Shifts
Welcome to World Today News. Today, we’re diving deep into the recent drop in oil prices, exploring the factors behind this shift and what it means for the future. We’re joined by two esteemed guests: **Dr. Emily Carter**, an energy economist with a focus on geopolitical influences on markets, and **Mr. James Miller**, a seasoned oil trader with decades of experience navigating global energy trends.
**Let’s begin with the most immediate factor impacting prices – the potential ceasefire in Lebanon.**
**Dr. Carter, your expertise in geopolitical economics is invaluable here. Can you help us understand how the prospect of a truce between Israel and Hezbollah directly influences the oil market?**
*(Dr. Carter provides her insights on the connection between geopolitical stability, market sentiment, and oil prices.)*
**Mr. Miller, from a trader’s perspective, how significant is this news in shaping your short-term strategies? Do you anticipate further price fluctuations based on developments in the region?**
*(Mr. Miller shares his observations on market reactions, price volatility, and potential trading opportunities.)*
**Moving beyond immediate events, the article mentions the cyclical trend of downward pressure on oil prices in late November. Is this simply seasonal, Mr. Miller, or are there deeper underlying factors at play?**
*(Mr. Miller discusses the historical trends of oil prices in November, considering factors like Thanksgiving holiday demand, refinery maintenance schedules, and inventory levels.)*
**Dr. Carter, how do you see the confluence of these short-term factors – geopolitical events and seasonal trends – impacting the long-term outlook for oil prices?**
*(Dr. Carter offers a broader perspective on how these factors interplay with long-term global energy trends, discussing potential shifts in supply and demand dynamics, renewable energy adoption, and geopolitical uncertainties.)*
**both of our guests, the upcoming OPEC+ meeting looms large. What are your expectations for the outcome of this meeting, and how might it influence oil prices in the coming months?**
*(Both guests share their insights on the likely scenarios emerging from the OPEC+ meeting, discussing potential production adjustments, geopolitical considerations, and the impact on global oil supply.)*
**Thank you both for your insightful analysis on such a crucial topic. This discussion has shed light on the complex interplay of geopolitical events, seasonal trends, and market dynamics that shape the ever-evolving landscape of oil prices.**
**(Closing remarks and a reminder for viewers to stay tuned for further coverage on this developing story.)**
