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Oil falls as Ukrainian peace talks near a possible resolution

World News

24-11-2025 | 00:17

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Oil falls as Ukrainian peace talks near a possible resolution

Oil prices fell on Monday, extending last week’s losses, as peace talks between Russia and Ukraine moved closer to a resolution and the U.S. dollar strengthened.

Brent crude futures dropped 14 cents, or 0.22%, to $62.42 a barrel by 01:48 GMT. U.S. West Texas Intermediate (WTI) crude fell 15 cents, or 0.26%, to $57.91 a barrel.

Both benchmarks fell by about 3% last week and hit their lowest levels since October 21, as market participants grew concerned that a Russia–Ukraine peace agreement could lift sanctions on Moscow and flood the market with previously restricted supplies.

“The selloff was driven mainly by President Trump’s strong push for a Russia–Ukraine peace deal, which markets see as a fast track to releasing significant Russian supply,” Tony Sycamore, analyst at IG, wrote in a note.

He added that the moves toward reaching a peace agreement.

Reuters

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