ผู้เขียน หัวข้อ: Oil falls on Ukraine peace talk hopes, China demand fears  (อ่าน 1176 ครั้ง)

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Oil falls on Ukraine peace talk hopes, China demand fears
« เมื่อ: มีนาคม 29, 2022, 04:00:13 pm »
Oil falls on Ukraine peace talk hopes, China demand fears




Oil prices on Tuesday extended losses from the previous day as Ukraine and Russia headed for peace talks and on concerns about demand as China's financial hub of Shanghai shut down to curb a surge in COVID-19 cases.

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Brent crude futures were down 60 cents, or 0.5per cent, at $111.88 a barrel at 0649 GMT, having fallen as low as $109.97.

U.S. West Texas Intermediate (WTI) crude futures were down 59 cents, or 0.6per cent, at $105.37 after hitting a low of $103.46.

Both benchmark contracts lost around 7per cent on Monday.

Ukraine and Russia were set to meet in Istanbul on Tuesday for their first peace talks in over two weeks. Sanctions imposed on Russia after it invaded Ukraine have curtailed oil supply and sent prices to 14-year highs earlier this month.

Russia calls its actions in Ukraine a "special operation" to disarm its neighbour.

"Oil prices are under pressure again on expectations for peace talks between Ukraine and Russia, which could lead to an easing or avoidance of Western sanctions on Russian oil," said Hiroyuki Kikukawa, general manager of research at Nissan Securities.

"A successful ceasefire could also raise the prospect of reviving an Iranian nuclear deal," he added.

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