Oil Prices Decline as Ukraine-Russia Peace Talks Progress
Oil futures dropped more than 2% on Tuesday following Ukraine's endorsement of a U.S.-brokered 19-point peace plan. A resolution to the conflict could alleviate supply chain disruptions for oil infrastructure and exports from both Ukraine and Russia, reducing upward pressure on global prices.
Ukrainian President Volodymyr Zelenskyy has expressed readiness to meet with former U.S. President Donald TRUMP as early as Thanksgiving to finalize key details. The potential easing of sanctions on Russia could further increase oil supply, creating short-term risks of oversupply and price vulnerability.
Market analysts warn that any delays in implementing the agreement may trigger renewed volatility in energy markets. The situation remains fluid as Russia's stance on the proposed deal is still unclear.
