Crude oil futures traded lower on Thursday morning after US President Donald Trump announced a peace plan to end the conflict between Israel and Hamas.

At 9.56 am on Thursday, December Brent oil futures were at $65.93, down by 0.48 per cent, and November crude oil futures on WTI (West Texas Intermediate) were at $62.18, down by 0.59 per cent. October crude oil futures were trading at ₹5,529 on Multi Commodity Exchange (MCX) during the initial hour of trading on Thursday against the previous close of ₹5,576, down by 0.84 per cent, and November futures were trading at ₹5,502 against the previous close of ₹5,551, down by 0.88 per cent.

In a post on social media platform Truth Social, Trump said: “I am very proud to announce that Israel and Hamas have both signed off on the first Phase of

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