Crude futures rise 1.3% as equities rally and progress in U.S. efforts for Russia-Ukraine peace deal reduces war-risk premium. WTI settles at $58.84, aiming to surpass $60 for technical resistance levels above. Diesel crack spreads dropping, affecting crude weight. Brent also rises 1.3% to $63.37 a barrel.
Oil futures decline by 0.3% as focus shifts to U.S. peace talks between Russia and Ukraine. Assumption of lifting sanctions on Russia if peace deal is reached. Russian crude exports decrease with buyers turning away, while China increases Middle East crude purchases. WTI at $57.91; Brent at $62.37.
Read more at “Wall Street Journal”
1. The Federal Reserve announced a 0.25% interest rate hike, signaling confidence in the economy’s recovery.
2. The FDA approved a new Alzheimer’s drug, Aduhelm, despite controversy over its effectiveness and side effects.
3. Tesla’s stock price surged after CEO Elon Musk hinted at a potential collaboration with a major tech company.: Oil Futures Snap Three-Session Losing Streak
