Oil Gains 2% as Israel Rejects Gaza Ceasefire Deal, US Gas Inventory Plummets

Crude oil prices have ticked up over 2% in the aftermath of the rejection of a ceasefire in Gaza, with Israeli forces launching new air strikes on Rafah city, and the Gaza Health Ministry saying that 130 people had been killed in the past 24 hours.  U.S. Secretary of State Antony Blinken visited the Middle East this week, raising hopes of a ceasefire deal during his trip. However, Israeli Prime Minister Benjamin Netanyahu vowed to continue the war until “victory”.  Earlier this week, Hamas offered a 4-½-month ceasefire…