Oil Prices Fall As Middle East Worries Ease

Oil markets have turned decidedly bearish after U.S. Secretary of State Antony Blinken revealed that Israeli Prime Minister Benjamin Netanyahu has accepted a cease-fire proposal to stop the war in Gaza, and all that's remaining is for "Hamas to say yes." Blinken met on Monday with top Israeli officials in Jerusalem. After hitting four-week highs, the options market's so-called skew--the cost of insuring against spikes or troughs in prices--has turned bearish over the past couple of trading days, reversing bullish hedges against a fresh escalation…