In today’s briefing:
- Oil futures: Crude holds gains as peace talks stall, rate cut optimism
Oil futures: Crude holds gains as peace talks stall, rate cut optimism
- Crude oil futures were steady on the week but up from Monday’s lows after US-Russia talks failed to find a breakthrough, while growing optimism on a US rate cut also helped to bolster sentiment.
- Front-month Feb26 ICE Brent futures were trading at $63.71/b (2041 GMT) versus Thursday’s settle of $63.26/b, while Jan26 NYMEX WTI was at $60.07/b against a previous close of $59.67/b.
- Benchmarks recovered from early-week lows, rebounding around 2% after negotiations between the US and Russia in Moscow broke off without a deal to end the Russia-Ukraine conflict.
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