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(ARCHIVE) NEW YORK, UNITED STATES / TATARSTAN-RUSSIA / KHANTY-MANSI AUTONOMOUS OKRUG, RUSSIA: Oil prices edged lower on Tuesday, adding to Monday's losses, amid expectations of a potential Lebanon cease-fire deal to make a push for a similar effort in Gaza.The international oil benchmark of Brent crude fell 0.05% to $72.58 per barrel at 10.23 a.m. local time (0723 GMT), down from the previous session's close of $72.62.The US benchmark West Texas Intermediate also declined by 0.05% to $68.93 per barrel, compared to $68.97 at the prior session's close.US President Joe Biden's senior envoy for the Middle East Brett McGurk will visit Saudi Arabia, "where he will discuss using the potential of a cease-fire deal in Lebanon as a catalyst for a potential Gaza cease-fire and for the return of hostages and for increased stability in the region," White House spokesperson Andy Bates told reporters.The White House earlier acknowledged "significant progress" in efforts to broker a cease-fire between Israel and the Lebanese Hezbollah group but said more work remains before a pact can be completed.A cease-fire agreement between Hezbollah and Israel is nearing completion and could be declared within the next 36 hours if negotiations proceed smoothly, a Lebanese parliamentarian said Monday."The atmosphere is positive, and cease-fire discussions have reached an advanced stage. It's only a matter of hours before an agreement is finalized and announced if progress continues as expected," Qassem Hashem, Lebanese lawmaker, told Anadolu.Israel has escalated its airstrikes in Lebanon against what it claims are Hezbollah targets as part of year-long warfare against the Lebanese group since the start of the Gaza war last year.(Footage by Anadolu Agency via Getty Images)