US EditionOil steadies, Ukraine peace talks and US rate decision in spotlight
Oil prices stabilized after a 2% drop as peace talks and a likely Fed rate cut influenced market supply and demand expectations, analysts said.
- On Dec 9, oil prices steadied after slipping 2 per cent as markets watched London peace talks where Ukraine will share a revised plan with the U.S.
- Iraq restored production at Lukoil's West Qurna 2 oilfield, triggering a drop of more than $1 in both contracts on Monday.
- With benchmarks drifting, Brent crude futures were at $62.47 a barrel at 0101 GMT, down 2 cents, while U.S. West Texas Intermediate crude was at $58.84, down 4 cents, as markets factored policy risks ahead of the Federal Reserve policy decision due Wednesday.
- With the Federal Reserve policy decision due Wednesday, markets are pricing an 87 per cent probability of a quarter-point rate reduction, while analysts warn peace talks outcomes could push prices higher or lower.
- Analysts at BMI expect oversupply in 2026 to keep prices under pressure, while Group of Seven and the European Union discuss a full maritime services ban on Russian oil exports.
16 Articles
16 Articles
Oil prices dropped slightly on Tuesday, December 8, increasing losses from a 2 per cent fall at the previous session, while markets closely follow peace negotiations to end Russia's war in Ukraine and the upcoming US interest rate decision.
Channel News Asia
Oil steadies, Ukraine peace talks and US rate decision in spotlight
Dec 9 : Oil prices steadied on Tuesday after slipping 2 per cent in the previous session, as market participants kept a close eye on peace talks to end Russia’s war in Ukraine and a looming decision on U.S. interest rates. Brent crude futures were down 2 cents, or 0.03 per cent, to $62.47 a barrel at 0101 G
Oil Prices Drop as Markets Weigh Peace Talks, Supply Outlook, and Fed Decision - Mansfield Energy
Oil prices are declining this morning, following a brief moment on Monday when they reached over $60/bbl, as traders balance geopolitical developments, shifting supply expectations, and US monetary policy signals. Brent crude edged slightly lower to $62.34/bbl while WTI dropped to $58.69/bbl. With uncertainty clouding the outlook, crude markets are holding within a tight trading range as investors await a clearer direction from ongoing peace dis…
Crude Oil Extends Losses Amid Renewed Supply Concerns And Fed Rate Decision Expectations
Oil prices declined further on Tuesday as renewed supply pressures, geopolitical uncertainty and expectations around the U.S. Federal Reserve’s policy decision continued to weigh on market sentiment. Brent crude oil, against which Nigerian crude oil is priced, slipped 7 cents to $62.42 per barrel at 08:17 a.m. in Nigeria, while U.S. West Texas Intermediate (WTI) […] The post Crude Oil Extends Losses Amid Renewed Supply Concerns and Fed Rate Deci…
Coverage Details
Bias Distribution
- 60% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
