Oil has dribbled lower – Gaza ceasefire talks, US inflation cited

Oil opened lower in Sunday evening futures trade and its continued to lose some ground.

Cited have been:

Israel-Hamas peace talks in Cairo have taken some fear of a wider conflict in the Middle East:

• Reuters reported that a delegation from Hamas will visit Cairo on Monday for peace talks
• Israel’s foreign minister said on Saturday a planned incursion into Rafah could be put off in the event of a deal that involves the release of Israeli hostages

A more hawkish tone from the Federal Open Market Committee (FOMC) this week:

• It’s a huge week ahead – the FOMC is the highlight but there are plenty of others

This article was written by Eamonn Sheridan at www.forexlive.com.