Oil prices fall as Israel and Lebanon agree to conditional ceasefire

Oil prices fell after Israel and Lebanon agreed to a conditional ceasefire, a move that could remove a major obstacle in talks aimed at ending the wider Middle East conflict and easing pressure on energy markets. Bloomberg reported that crude dropped after three days of gains as the agreement hinged on Hezbollah also stopping hostilities, making the truce dependent on a condition that could determine whether the fighting truly cools or flares again.