Brent Oil Prices Fall Below $60 on Ukraine Peace Deal Progress

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 9:27 a.m. ET on Tuesday, the front-month Brent Crude futures prices traded down by 2.16% below the $60 per barrel threshold, at $59.31.  The U.S. benchmark, WTI Crude, slipped by 2.34% and traded at $55.55 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%…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com