Oil prices fell over 2% on Tuesday after Ukraine hinted that an intense diplomatic push by the U.S. administration to end Russia's war against it could be yielding fruit.An end to the war
Oil prices fell over 2% on Tuesday after Ukraine hinted that an intense diplomatic push by the U.S. administration to end Russia's war against it could be yielding fruit.
An end to the war in Ukraine could pave the way for the unwinding of Western sanctions against Moscow's energy trade, potentially adding more supply at a time when prices have been battered by expectations of a glut next year.
Brent crude futures fell $1.45, or 2.3%, to $61.92 a barrel by 11:19 a.m. ET (1619 GMT), while U.S. West Texas Intermediate crude futures were down $1.44, or 2.5%, to $57.40 a barrel.
Ukrainian President Volodymyr Zelenskiy could visit the U.S. in the next few days to finalise a deal with President Donald Trump to end the war, Kyiv's national security chief Rustem Umerov said.
Still, Russia stressed it would not let any deal stray too far from its objectives, which helped keep oil's losses in check as Russia's position raises doubts about whether a formal agreement will be reached, said Ed-Hayden Briffett, oil analyst at Onyx Capital Group.
The uncertainty was underscored by Russia's barrage of missiles on the Ukrainian capital Kyiv on Tuesday, which killed six people, wounded 13,
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