{"id":121354,"date":"2025-12-03T13:11:59","date_gmt":"2025-12-03T09:11:59","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=121354"},"modified":"2025-12-03T13:12:03","modified_gmt":"2025-12-03T09:12:03","slug":"oil-slips-as-markets-weigh-u-s-russia-peace-talks-and-ongoing-supply-risks","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-slips-as-markets-weigh-u-s-russia-peace-talks-and-ongoing-supply-risks\/12\/03\/market-updates\/","title":{"rendered":"Oil Slips as Markets Weigh U.S.\u2013Russia Peace Talks and Ongoing Supply Risks"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>Oil prices edged lower in Asian trading on Wednesday, extending losses from the previous session as traders assessed the mixed implications of high-level talks between the U.S. and Russia over ending the war in Ukraine.<\/p>\n\n\n\n<p>By <strong>22:05 ET (03:05 GMT)<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Brent February futures<\/strong> slipped <strong>0.3% to $62.24<\/strong> per barrel<\/li>\n\n\n\n<li><strong>WTI crude futures<\/strong> fell <strong>0.3% to $58.44<\/strong> per barrel<\/li>\n<\/ul>\n\n\n\n<p>Both benchmarks had already declined by more than <strong>1% on Tuesday<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Markets Parse U.S.\u2013Russia Talks on Potential Peace Deal<\/strong><\/h3>\n\n\n\n<p>A five-hour meeting in Moscow between Russian President <strong>Vladimir Putin<\/strong> and U.S. envoys <strong>Steve Witkoff<\/strong> and <strong>Jared Kushner<\/strong> concluded after midnight, but the Kremlin confirmed that <strong>no breakthrough<\/strong> was achieved.<\/p>\n\n\n\n<p>Kremlin adviser <strong>Yuri Ushakov<\/strong> called the dialogue \u201cconstructive,\u201d yet emphasized that major sticking points remain \u2014 particularly <strong>territorial issues involving the Donbas region<\/strong>. The lack of tangible progress kept markets cautious.<\/p>\n\n\n\n<p>Meanwhile, <strong>Ukrainian strikes on Russian energy infrastructure<\/strong> continued, sustaining the risk of interruptions to Russian crude and product exports. These attacks maintain a <strong>geopolitical risk premium<\/strong> in oil prices, even as diplomatic language between the U.S. and Russia shows tentative signs of easing.<\/p>\n\n\n\n<p>Adding to tensions, ING analysts noted that <strong>Moscow has warned it may begin striking ships belonging to countries supporting Ukraine<\/strong>, following recent Ukrainian attacks on Russian vessels \u2014 a move that could further destabilize regional shipping routes.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>API Data Shows Larger-Than-Expected U.S. Crude Draw<\/strong><\/h3>\n\n\n\n<p>U.S. supply data from the <strong>American Petroleum Institute<\/strong> added another layer to the market narrative.<br>API reported a <strong>2.48-million-barrel draw<\/strong> in crude inventories for the week ending November 28 \u2014 a sharper decline than the prior week.<\/p>\n\n\n\n<p>Such large draws are typically <strong>bullish<\/strong> for crude markets, suggesting rising demand or tightening supply. However, traders remained cautious ahead of the <strong>official EIA report<\/strong>, due later Wednesday, which will include updates on:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Crude stocks<\/li>\n\n\n\n<li>Gasoline inventories<\/li>\n\n\n\n<li>Distillate supplies<\/li>\n<\/ul>\n\n\n\n<p>The EIA data is considered more authoritative and could reinforce \u2014 or reverse \u2014 the bullish read from API.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices edged lower in Asian trading on Wednesday, extending losses from the previous session as traders assessed the mixed implications of high-level talks between the U.S. and Russia over ending the war in Ukraine. By 22:05 ET (03:05 GMT): Brent February futures slipped 0.3% to $62.24 per barrel WTI crude futures fell 0.3% to &hellip;<\/p>\n","protected":false},"author":9,"featured_media":60920,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,6827,49,36],"tags":[],"class_list":["post-121354","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/121354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=121354"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/121354\/revisions"}],"predecessor-version":[{"id":121355,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/121354\/revisions\/121355"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/60920"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=121354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=121354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=121354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}