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Oil drops $7 a barrel on positive signals about Russia-Ukraine peace talks

A.F 29 March, 2022 5:18 pm Commodities, Market Update

Oil prices fell as much as $7 a barrel during trading on Tuesday, extending losses from the previous session, after Russia described peace talks with Ukraine as constructive, while fresh shutdowns in China to curb the spread of the coronavirus hit fuel demand.

Brent crude futures fell to $105.46 a barrel by 1240 GMT.

US West Texas Intermediate crude contracts fell from the $100 level to $98.75 a barrel.

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