Oil prices fell 1% on Tuesday (December 2nd) as the market weighed fading hopes for a Russia-Ukraine peace deal and concerns about oversupply. Brent crude futures closed 72 cents lower, or 1.14%, at $62.45 a barrel, while U.S. West Texas Intermediate crude fell 68 cents, or 1.15%, to $58.64 a barrel. Both benchmarks rose more than 1% on Monday. Investors shifted their focus to Russia-Ukraine peace talks as Russian President Vladimir Putin met with U.S. President Donald Trump's special envoy, Steve Witkoff, and his son-in-law, Jared Kushner, in the Kremlin on Tuesday. "Oil prices were...
Oil held a decline as traders weighed the outlook for an end to the war in Ukraine following high-level talks between the US and Russia, while attacks on Moscow's energy assets continued. West Texas Intermediate was below $58 a barrel after falling 1.2% on Tuesday. Brent closed near $62. The Kremlin said Vladimir Putin held "very useful" talks with US envoys Steve Witkoff and Jared Kushner, though the sides failed to reach agreement on a plan to end Russia's war in Ukraine. The talks came against the backdrop of another attack on a Russia-linked tanker, but it remains...
The USD/JPY pair rose again to around 155.85 at the start of Wednesday's Asian session, after declining for three consecutive days. The slight strengthening of the US dollar occurred as markets awaited the release of important economic data from the United States. However, the USD's gains still appeared limited due to volatile risk sentiment. The US dollar found some support, but recent reports regarding the next Federal Reserve Chair candidate have made market participants cautious. Kevin Hassett, a White House economic adviser, is said to be the leading candidate. He is known to support...