Middle East Tensions Ease, Oil Prices Fluctuate
Oil prices fell due to reduced Middle East tensions.
Middle East holds over half the world's oil reserves.
Ceasefire may lower geopolitical risk by 1-2% of Brent.
Oil prices rose 1% then fell to $62.11 and $65.87.
Netanyahu will approve the ceasefire.
Analysts predict Iran's exports may rise due to OPEC Plus shortfalls.
Global oil demand was 105.9 million bpd in early October.
Ceasefire could reduce Houthi attacks on Red Sea shipping.
3 months ago