Oil prices declined on Wednesday after Russia, the world’s largest oil exporter, agreed to a U.S. proposal to temporarily halt energy infrastructure attacks between Moscow and Kyiv. This could lead to an increase in Russian oil entering global markets. However, ongoing instability in the Middle East limited the drop in oil prices.
According to Bloomberg, Brent crude futures fell by 12 cents, or 0.2%, to $70.44 per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) crude dropped by 15 cents, or 0.2%, to $66.75 per barrel.
-- (Petra)
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Oil prices declined on Wednesday after Russia, the world’s largest oil exporter, agreed to a U.S. proposal to temporarily halt energy infrastructure attacks between Moscow and Kyiv. This could lead to an increase in Russian oil entering global markets. However, ongoing instability in the Middle East limited the drop in oil prices.
According to Bloomberg, Brent crude futures fell by 12 cents, or 0.2%, to $70.44 per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) crude dropped by 15 cents, or 0.2%, to $66.75 per barrel.
-- (Petra)
