Oil prices fell due to Zelenskyy’s peace plan with the U.S., sending WTI down 2.51% to $57.52 per barrel. Brent crude also dropped 2.19% to $61.99. This marks the third consecutive daily decline for WTI, with concerns over supply growth and demand weakening. Russian Urals crude is trading $23 below other grades due to sanctions.

U.S. crude stockpiles unexpectedly decreased by 3.4 million barrels, driven by strong refinery activity, but prices remained low amidst geopolitical focus. Asian stocks declined after U.S. employment data, boosting the dollar and impacting oil prices. OPEC+ remains a key player, with plans to boost production before halting in early 2026.

Markets await signals from Kyiv and Washington to determine crude’s trajectory into December. Oilprice.com provides expert analysis and market insights for subscribers.

Read more at Yahoo Finance: Oil Prices Sink 2.6% After Zelenskyy Agrees to Work on Peace Deal