Oil Slips as Investors Eye Israel-Gaza Truce Talks, US Fed Policy Review

• Oil edged down on Tuesday after Israel-Hamas ceasefire talks in Cairo helped quell market fears of an expanding conflict in the Middle East, while worries about the outlook for U.S. interest rates dragged on the market.
• Brent crude futures dipped 19 cents, or 0.21%, to $88.21 a barrel, while U.S. West Texas Intermediate (WTI) crude futures slipped 20 cents, or 0.24%, to $82.43 a barrel.
• "The ongoing negotiation for a potential ceasefire between Israel and Hamas has led market participants to further unwind the geopolitical risk premium in oil prices, while the upcoming Fed meeting also drives some near-term reservations," said Yeap Jun Rong, market strategist at IG.
• Hamas negotiators left Cairo late on Monday to consult with the group's leadership after talks with Qatari and Egyptian mediators on a response to a phased truce proposal that Israel presented on the weekend.
• The delegation was expected to report back within two days, two Egyptian security sources said.

 (Source: Reuters)