New York oil prices fall for second day on hopes of Gaza truce deal

New York oil prices fell for the second day in a row on news that negotiations for a cease-fire in the Gaza war would resume.

On the New York Mercantile Exchange, West Texas Intermediate for December delivery closed at $70.19 a barrel, down $0.58 and 0.82% from the previous session.

Brent crude oil for December delivery, which is subject to international comparison, closed at $74.38 a barrel, down $0.58 and 0.77% from the previous session.

West Texas Intermediate and Brent crude have been pushed lower this week after two consecutive trading sessions.

"The energy market continues to zigzag as risk levels in the Middle East change," energy advisory firm Ritter Bush and Associates said.