As the U.S. pushes for a Gaza cease-fire, oil prices drop for the fourth time in five sessions.

• Over the past week, the price of U.S. crude oil has fluctuated between $75 and $80 per barrel, as the market is torn between geopolitical tensions and supply and demand factors.
• Antony Blinken, the U.S. Secretary of State, is in the Middle East, striving to secure a cease-fire agreement in Gaza.

The price of crude oil decreased for four consecutive days in five, due to the US's efforts to achieve a cease-fire agreement in Gaza and concerns about decreasing demand affecting the market.

Antony Blinken, the U.S. Secretary of State, is in Israel, stating that the current situation may be the "last chance" to achieve a peace deal and release hostages held by Hamas.

Cease-fire talks are scheduled to continue this week in Cairo.

Here are Monday's energy prices:

• The September contract price for oil is $76.11 per barrel, which is a decrease of 54 cents or 0.7%. Despite this, U.S. oil has experienced a yearly gain of 6.22%.
• The October contract price is $79.15 per barrel, which is a decrease of 53 cents or 0.67%. Year-to-date, the global benchmark has increased by 2.75%.
• The price of gasoline in September remained relatively stable at $2.30 per gallon. However, year-to-date, gasoline prices have increased by 9.4%.
• The September contract price for gas is $2.14 per thousand cubic feet, which is an increase of 2 cents or 1%. Despite this, gas prices have decreased by 14.6% year to date.

The price of U.S. crude oil has fluctuated between $75 and $80 per barrel in the past week, as the market is torn between geopolitical tensions in the Middle East that could increase prices and supply and demand factors that are pushing them down.

Energy Aspects founder Amrita Sen stated that demand is currently driving the market, with prices reacting to weak data from China. Traders have largely disregarded geopolitical risk premium due to the absence of supply disruptions, as per Sen.

According to Brian Leisen, global oil strategist at RBC Capital Markets, a bearish view is held, and in the medium term, slowing economic activity, weakness in Asia, and softer refinery margins do not indicate positive prospects for crude prices at the end of the year.