Oil prices fell by 2% early on Tuesday as hope of a peace deal in Ukraine increased, sending Brent crude below $60 per barrel to the lowest level since May. As of 9:47 a.m. ET on Tuesday, the front-month Brent Crude futures prices traded down by 2.10% below the $60 per barrel threshold, at $59.29. The U.S. benchmark, WTI Crude, slipped by 2.22% and traded at $55.56 per barrel by early morning ET. The U.S. oil price has plunged by 22% year to date and is on track for the worst performance since 2018. Brent, for its part, has lost 20%…