Oil Prices Slip as Ukraine Peace Talks Progress and China's Economy Stalls

Oil prices were under pressure in early Asian trading on Tuesday as growing optimism around Russia-Ukraine peace talks and disappointing economic indicators out of China undercut market sentiment, reinforcing downside pressure on crude benchmarks. At the time of writing, WTI crude hovered at $56.49 a barrel, down roughly 0.6%, while Brent crude was trading at $60.20, also about 0.6% lower. These levels reflect continued softness from the prior session’s declines. Rising optimism over a potential peace deal to end the Russia-Ukraine conflict…