LONDON—Oil slipped more than 1 percent on Monday as concern eased about the Israel-Hamas war affecting supply from the region and as investors adopted caution ahead of this week’s U.S. Federal Reserve meeting and other indications of global economic health.
Crude had jumped 3 percent on Friday after Israel stepped up ground incursions into Gaza, stoking worries the conflict could expand in a region that accounts for a third of global oil output. However, that concern was fading on Monday, analysts said.
