Listen
(2 min)
0852 GMT – Oil prices slip in early trading following Monday’s gains, with investors keeping a close eye on Ukraine-Russia developments as a peace deal could result in the release of more Russian crude into an already oversupplied market. Brent crude and WTI both fall 0.8% to $62.20 and $58.40 a barrel, respectively, after settling higher in the previous session. “The oil market received a boost from a broader risk-on move, with equities rallying and the market pricing in a higher probability of the U.S. Federal Reserve cutting interest rates on Dec. 10,” ING analysts say. Meanwhile, signs of increased disruption to Russian crude exports due to U.S. sanctions are also offering some support. According to ANZ Research, the discount on Russia’s flagship Urals crude for Indian refiners has widened to as much as $7 a barrel compared to Brent, as buyers become increasingly concerned about the impact of sanctions. ([email protected])
Oil Falls; Potential Ukraine-Russia Peace Deal in Focus
0115 GMT — Oil trades lower in the Asian session. Traders are likely weighing the prospect of a Ukraine-Russia peace deal that could deflate political risk from an already well-supplied market, says the Global Economics and Markets Research team at UOB in a note. The Wall Street Journal reported Monday that diplomats from the U.S. and Ukraine thrashing out changes to a Trump-backed peace plan have left thorny decisions over territory to their countries’ presidents, according to European officials familiar with the discussions. The front-month WTI crude oil futures are 0.1% lower at $58.76/bbl, while Brent is down 0.2% at $63.26/bbl. ([email protected])
Copyright ©2025 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
