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Crude Oil WTI Sep '28 (CLU28)

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Crude Oil WTI Futures Market News and Commentary

Crude Oil Prices Fall on Possible Progress on Ukraine-Russia Peace Deal

February WTI crude oil (CLG26) on Friday closed down -1.61 (-2.76%), and February RBOB gasoline (RBG26) closed down -0.0467 (-2.66%).

Crude oil prices fell sharply due to possible progress on a Ukraine-Russia peace deal.  Ukrainian President Zelensky said on Friday that he expects to meet with President Trump on Sunday in Florida.  Mr. Zelensky said a 20-point peace plan is 90% ready, but it depends on the meeting with Mr. Trump and can't be finalized without input from Russia and Europe.  Russia reportedly said that the 20-point peace plan fails to answer many questions.

Oil prices have support after the US on Thursday launched strikes on ISIS targets in Nigeria in a security and intelligence collaboration with the Nigerian government to combat rising terrorist attacks in the country.  Nigeria is an OPEC member.  Mr. Trump previously warned that the US would strike ISIS in Nigeria if the group did not stop killing Christians.

Oil prices have support from the US bl... Read more

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