Israel’s agreement to a ceasefire deal with Lebanon sent crude oil prices slipping on Tuesday.
Prices dropped as a sign that oil’s risk premium was reduced. It came after Israel’s security cabinet agreed to the ceasefire and the accord is expected to take effect Wednesday.
West Texas Intermediate finished down 17 cents or 0.25% at $68.77 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude fell 20 cents or 0.27% to close at $72.81 a barrel.
Natural gas rose 2 cents or 0.70% to $3.47.
As crude oil prices weakened for the day, so did Oklahoma energy stocks as most recorded losses on Tuesday. There were a few exceptions including a 7% increase for Mammoth Energy Services.
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