Oil opened lower in Sunday evening futures trade and its continued to lose some ground.
Cited have been:
Israel-Hamas peace talks in Cairo have taken some fear of a wider conflict in the Middle East:
- Reuters reported that a delegation from Hamas will visit Cairo on Monday for peace talks
- Israel's foreign minister said on Saturday a planned incursion into Rafah could be put off in the event of a deal that involves the release of Israeli hostages
A more hawkish tone from the Federal Open Market Committee (FOMC) this week:
