Oil prices decline amid prospects of eased Ukraine tensions
The price decline was largely driven by the prospect of increased Russian crude exports, as the US engaged in negotiations aimed at resolving the conflict in Ukraine. A potential lifting of sanctions on Russia
Oil prices fell on Friday, 14 February 2025, as growing optimism over a potential peace agreement between Russia and Ukraine raised expectations of improved global supply stability.
Brent futures fell by 28 cents to settle at $74.74/barrel.
WTI slipped by 55 cents to close at $70.74/barrel.
The price decline was largely driven by the prospect of increased Russian crude exports, as the US engaged in negotiations aimed at resolving the conflict in Ukraine. A potential lifting of sanctions on Russia, contingent on a peace deal, could further ease supply constraints that have tightened global oil markets.
However, the downside was limited by ongoing uncertainty surrounding global trade policies. The US administration has delayed the implementation of retaliatory tariffs amid escalating trade tensions. An appointed economic official is currently reviewing potential tariffs on nations imposing duties on American goods, with policy recommendations expected by 01 April.
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Written by: Muhammad Hafiz