Oil prices, as tracked by the United States Oil Fund (NYSE:USO), dropped 1% on Thursday amid progress in renewed diplomatic efforts toward a Gaza cease-fire deal. West Texas Intermediate (WTI) light crude fell to $70.7 a barrel, heading for its second straight day in the red. U.S. and Israeli officials are set to convene in Doha in the coming days to restart discussions on a potential cease-fire in Gaza and negotiate the release of hostages held by Hamas. The talks, confirmed by officials on Thursday, aim to bring an end to the deadly conflict that erupted on Oct. 7, 2023, when Hamas launched …
