Oil prices continue to fall under pressure from oversupply fears and are headed for their fourth consecutive monthly decline, the longest streak in more than two years.
Thus, Brent oil was around 63 dollars per barrel yesterday, and US crude oil WTI (West Texas Intermediate) was around 59 dollars per barrel.
Meanwhile, Russian leader Vladimir Putin said US President Donald Trump’s proposals to end the war in Ukraine could spur future deals and signaled a willingness to talk.
Progress in the talks could lead to the lifting of sanctions on Russian crude and release limited supplies to larger buyers.
Still, many doubt an agreement will come soon, and even if it does, Russian shipments are expected to take a long time to ramp up.
Traders are now looking forward to Sunday’s virtual meeting of the Organization of the Petroleum Exporting Countries, OPEC plus, where the group is expected to maintain its plan to halt production increases in early 2026.
(Vijesti.ba)
