By Adedapo Adesanya Oil lost more than $1 a barrel on Monday as Israel ceasefire talks in Cairo tempered fears of a wider Middle East conflict, while US inflation data dimmed the prospect of imminent interest rate cuts. Brent crude futures for June settled at $88.40 a barrel after falling $1.10 or 1.2 per cent, and the US West Texas Intermediate (WTI) futures settled at $82.63 a barrel after losing $1.22 or 1.5 per cent. The US Secretary of State made a renewed diplomatic push in the Middle East to secure a cease-fire in Gaza and head off an Israeli offensive
Oil Falls $1 on Middle East Peace Talks, US Rate Cut Doubts
