Analyst: Crude oil futures recover some losses as concerns over the ceasefire agreement impact the market

Nikos Tzabouras of Tradu said in a report: "Concerns on the supply side remain, and restoring capacity damaged during the hostilities cannot be accomplished overnight, which gives crude oil the potential to rise further." He added, "On the other hand, there is already a roadmap for a solution, and US President Trump may have a strong incentive to end the conflict before the midterm elections and protect the country's economy." West Texas Intermediate crude rose 5.7% to $99.83 per barrel; Brent crude oil rose 3.6% to $98.15 per barrel.