World oil prices fall by over 1%

Oil prices fell on Monday despite Israel’s expansion of ground military operations in the Gaza Strip, Report informs via Interfax.

December Brent futures fell in price on the London ICE Futures exchange by $1.21 (1.34%), to $89.27 per barrel.

By this time, December futures for WTI had fallen in price on the New York Mercantile Exchange NYMEX by $1.3 (1.52%), to $84.24 per barrel.

Over the past week, Brent and WTI dropped in price by 1.8% and 2.9%, respectively.

Israeli Prime Minister Benjamin Netanyahu announced last weekend that the decision had been made to move to the second phase of the operation against Hamas, which will involve more troops. Previously, the Israel Defense Forces carried out several raids in the sector.

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