Oil Prices Sink as Ukraine Agrees to Peace Deal
Market Intelligence Analysis
AI-PoweredOil prices dropped as Ukraine agreed to a peace deal, with U.S. WTI Crude falling 1.29% to $58.08 and Brent Crude down 1.23% to $62.59 per barrel.
Market impact analysis based on bearish sentiment with 84% confidence.
Article Context
Oil prices extended losses early on Tuesday after news broke that Ukraine has mostly agreed to a peace deal, with “minor details” to discuss and settle. As of 8:35a.m. ET on Tuesday, the U.S. benchmark crude futures, WTI Crude, dropped by 1.29% to further slip below $60 per barrel, at $58.08. The international benchmark, Brent Crude, was trading down by 1.23% at $62.59. Prices reacted to reports early on Tuesday that the U.S. plan for peace in Ukraine has received support from Ukrainians. The development added to persistent…
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