Oil prices fell slightly on Tuesday, continuing losses of around 2% from the previous session, as market participants closely monitored peace talks aimed at ending the Russian-Ukrainian war and the imminent U.S. interest rate decision.
اضافة اعلان
Brent crude futures dropped eight cents, or 0.1%, to $62.41 per barrel at 04:09 GMT. U.S. West Texas Intermediate (WTI) crude fell 13 cents, or 0.2%, to $58.75 per barrel.
Both contracts had declined by more than $1 on Monday after Iraq resumed production at the West Qurna-2 oil field operated by Lukoil, one of the largest oil fields in the world.
Ukraine is expected to present a revised peace plan to the United States following talks in London between President Volodymyr Zelensky and leaders from France, Germany, and the United Kingdom.
Sources also reported that the G7 countries and the European Union are in discussions to replace the Russian oil export price cap with a full ban on maritime services, in an effort to reduce Russia’s oil revenues.
The market is awaiting the U.S. Federal Reserve’s monetary policy decision, scheduled for Wednesday, with markets currently assigning an 87% probability of a 25-basis-point rate cut.
(Reuters)
