Oil Prices Slip Amid Russia-Ukraine Hopes
Global oil prices fall for fourth consecutive day on Russia-Ukraine peace deal optimism.
Global Oil Prices Extend Decline on Russia-Ukraine Peace Deal Hopes
Global oil prices have fallen for the fourth consecutive day, driven by optimism over a potential Russia-Ukraine peace deal that could ease sanctions and lift supply. The decline in oil prices comes as investors weigh the potential impact of a peace deal on global energy markets.
Brent crude futures, the international benchmark for oil prices, slid 20 cents, or 0.2%, to $74.59 a barrel by 0112 GMT. The decline in oil prices has been driven by expectations that a peace deal could ease sanctions on Russia, which would allow the country to increase its oil exports.
The decline in oil prices has also been driven by concerns over the impact of global tariff wars on economic growth and energy demand. The ongoing trade tensions between the US and China have raised concerns over the potential impact on global economic growth, which could weaken energy demand and put downward pressure on oil prices.
The decline in oil prices is likely to continue in the near term, unless there is a significant change in the Russia-Ukraine conflict or the global economic outlook.
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