1528 ET – Oil futures post back-to-back losses with the market focused on efforts to end the Russia-Ukraine war, which if successful could affect supply-demand balances that are already seen loosening in the coming year. “Much of the current discussion still revolves around short-term volatility and potential risk of geopolitics, yet the deeper signals are becoming harder to overlook,” Ahmad Assiri of Pepperstone says in a note. “The coming year looks set to be one where physical fundamentals nudge the market toward a repricing of expectations.” WTI settles down 1.1% at $58.25 a barrel, and Brent falls 0.9% to $61.94.
Oil Futures Slip With Eyes on Russia-Ukraine Peace Efforts
0851 ET – Crude futures edge lower as the market watches for progress in Russia-Ukraine peace efforts. “We feel that the market is expressing excess optimism regarding a peace deal that would open the door for reduced Russian sanctions,” Ritterbusch and Associates says in a note.
