• Oil declined from a five-month high after Israel said it would remove some troops from Gaza, as traders wait for a series of market reports this week that will provide a snapshot on supply and demand.
• Brent futures tumbled by as much as 2.6% before clawing back some losses to trade below $90 a barrel. West Texas Intermediate was under $86. Oil has rallied recently on escalating geopolitical tensions and supply shocks, raising the prospect of the global benchmark reaching triple figures.
• Israel said on Sunday that the country is pulling some troops from southern Gaza, with the forces recuperating and preparing for future operations, including an offensive on Rafah. Iran is also preparing a response to a suspected Israeli attack on its consulate in Syria, which could escalate regional tensions.