Oil prices rise as Rafah strike complicates Israel-Hamas ceasefire talks
Investing.com-- Oil prices rose in Asian trade on Tuesday amid growing doubts that talks between Israel and Hamas will yield a ceasefire, especially after an Israeli strike on the city of Rafah in Southern Gaza.
Hamas had reportedly agreed to a proposal for a Gaza ceasefire from mediators in Egypt. But Israel said the deal did not meet its demands, and kept up its strikes in Rafah. While Israel was still seen preparing for ceasefire negotiations later, the recent escalation in military action showed little actual progress towards a deal.
also afforded some strength to oil prices, as softer than expected nonfarm payrolls data sparked renewed speculation over when the Federal Reserve will begin cutting interest rates.
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