Crude Oil is trading today in the European session below the $83 level.
Crude oil prices are on track to finish April with minimal fluctuations after experiencing a significant surge in the first quarter of 2024.
This surge was fueled by OPEC's production cuts, optimism surrounding economic rebound, and tensions in energy infrastructure stemming from conflicts between Ukraine and Russia, both major players in the global oil market.
Recent reports from the media indicate that the U.S. Secretary of State Antony Blinken is intensifying efforts to broker a ceasefire in Gaza. This move has contributed to easing market apprehensions regarding the escalation of conflict in the Middle East.