Oil Slides as Markets Weigh U.S.-Brokered Ukraine Peace Effort

Overview

• Brent for January settled down 1.29% at $62.56 a barrel and January WTI fell 1.83% to $58.06 on ICE and Nymex.
• The move followed Volodymyr Zelensky’s signal that Ukraine will work with a U.S.-crafted peace proposal.
• Investors trimmed the geopolitical risk premium embedded in crude as de-escalation prospects gained traction.
• President Donald Trump set next Thursday as a deadline for Kyiv to accept the plan, which reporting says was developed by Washington and Moscow.
• Analysts warn that suspending sanctions on Russian oil could push prices lower, with Mizuho’s Robert Yawger saying WTI could fall below $55.