Oil prices decline as traders assess Ukraine deal prospects
pre-market1 source ↓written by the desknot a recommendation
- per barrel
- $62
- Texas Intermediate below
- $58
- drop last week
- 3%
Oil prices continued to fall, with Brent crude nearing $62 per barrel and West Texas Intermediate below $58. This decline follows a nearly 3% drop last week, marking the largest weekly loss since early October. Traders are evaluating the potential impact of a Ukraine-Russia peace deal on crude supply amid an already oversupplied market. 📉
The International Energy Agency predicts a record surplus for 2026, intensifying concerns over future price stability. Market participants are closely watching developments in US-Ukrainian negotiations, which may influence sanctions on Russia and crude flows.
Not investment advice. For informational purposes only.