Oil Prices Drop Amid Peace Talks, Russian Oil Re-entry
Update: 2025-11-24
Description
Oil markets are on edge as peace talks between Russia and Ukraine unfold, with both major oil benchmarks dropping by three percent last week. The U.S. dollars strength also contributes to the price dip. West Texas Intermediate and Brent crude prices are at their lowest since late October, with traders anticipating a potential increase in Russian oil supply if a peace deal is reached. Progress in an updated peace framework and U.S. Secretary of State Marco Rubios optimistic outlook suggest a possible re-entry of frozen Russian crude into the market, potentially lowering prices further.
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