Ahmad 
Oil prices fell more than two percent at the settlement after speculation of a proposed ceasefire in Gaza.
Brent crude futures fell to 78.70 dollars a barrel at settlement. U.S. West Texas crude futures fell 73.82 dollars.
Tensions in the Middle East have recently boosted oil prices. Fears persist of Houthi attacks on shipping in the Red Sea, which are raising the costs of global oil trade and disrupting its supply.