• Israel and Iran-backed militant group Hezbollah in Lebanon have agreed to a ceasefire deal. 
• OPEC has started discussions on its production restart plans. 
• The US Dollar Index edges slightly lower ahead of a chunky economic data calendar ahead. 

Crude Oil ticks up on Wednesday, flirting with a 1% gain on the day. The move comes with several Organization of the Petroleum Exporting Countries and its allies (OPEC ) delegates confirming talks are underway for another delay of plans for its production normalization. The postponement could take months, with even talks of a pushback to the second quarter of 2025, Bloomberg reports. 

The US Dollar Index (DXY), which measures the Greenback’s performance against a basket of currencies, is struggling again ahead of Thursday and Friday's Thanksgiving festivities. The release of the Federal Reserve (Fed) Minutes on Wednesday was the cue for traders to start taking profit in the Greenback rally, with only a rate cut pause or an actual rate cut under consideration for the upcoming Fed meeting in December. 

With the shortened trading week, all main economic data releases, such as a revised reading for the third quarter of the US Gross Domestic Product (GDP), the Personal Consumption Expenditures Price Index (PCE), and the Durable Goods Orders reading for October, will be unleashed this Wednesday.