Oil prices fell on Thursday after comments by the president of Ukraine about the negotiations with Russia, in addition to the prospect of an oversupply in the market.
The price of a barrel of North Sea Brent for delivery in February lost 1.49% to $61.28.
Its US equivalent, a barrel of West Texas Intermediate, due in January, fell 1.47% to $57.60.
The Ukrainian president, Volodymyr Zelensky, indicated on Thursday that he had had a “constructive conversation” with senior officials of Donald Trump’s administration about security guarantees for his country.
Zelensky also stated that any compromise between kyiv and Moscow on the control of territories in the east of the country must be “fair” and validated in a referendum in Ukraine.
“The market is in suspense with every news about Russia’s war in Ukraine,” analyst Robert Yawger of Mizuho USA told AFP.
“A diplomatic solution will allow sanctions to be lifted on Russia, the third largest producer on the planet,” Yawger added.
The International Energy Agency highlighted in its monthly report published on Thursday that total oil supply fell in November, especially because Russian exports fell by 420,000 barrels a day, under pressure from US sanctions.
The return of those barrels would then reinforce a perspective of perceived oversupply in the oil market.
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