Oil prices fall as Trump proposes Israel-Hamas peace plan

Business Oct 09, 2025

Oil prices slipped this Thursday after US President Donald Trump announced a peace plan aimed at ending the Israel-Hamas conflict.
The move is expected to calm tensions in West Asia, which usually push oil prices up.
Brent crude futures for December dropped 0.48% to $65.93, and WTI crude for November fell 0.59% to $62.18.

What about Indian oil prices?

Indian crude oil futures also took a hit—October contracts on MCX slid 0.84% to ₹5,529, with November down 0.88% to ₹5,502.
The drop is linked to both Trump's peace proposal and rising US oil inventories; the US Energy Information Administration reported a 3.7 million barrel increase last week, even though gasoline and distillate supplies dipped a bit.