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16.12.2025 20:39:32
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Crude Oil Plummets To Lowest Levels Since Early 2021
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Jetzt informieren(RTTNews) - Extending the steep drop seen in the previous session, crude oil prices are plummeting during trading on Tuesday, hitting their lowest levels since early 2021.
Crude for January delivery last seen trading at $55.25 a barrel, down $1.57 or 2.8 percent after tumbling $0.62 or 1.1 percent on Monday.
The continued slump by the price of crude oil came amid lingering oversupply concerns along with worries a potential Russia-Ukraine peace deal could lead to increased supply.
Optimism over Ukraine peace talks prevailed after U.S. President Donald Trump claimed fresh progress in peace talks.
Following talks between European leaders and U.S. officials, Trump said "we're closer now than we have been ever" to a Ukraine peace deal.
The U.S. President also said he spoke at length with Ukrainian President Volodymyr Zelenskyy and that the talks were very good.
Under a U.S.-led peace deal, Ukraine would get security guarantees similar to those afforded NATO members, White House officials reportedly said.
Russia is open to Ukraine joining the European Union, but issues around territory remain, it was said.
A potential Russia-Ukraine peace deal could pave the way for the unwinding of Western sanctions against Moscow's energy trade and add to concerns over excess supply in the market.
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