As leaders in Russia, Ukraine and the U.S. come closer to a possible meeting to end the fighting in Ukraine, one thing is certain…traders are growing optimistic a deal will be reached and tough sanctions on Russian crude oil won’t have to be implemented.
It led to a fall of about $1 a barrel Tuesday of crude oil prices.
The U.S. benchmark, West Texas Intermediate crude dropped $1.07 or 1.69% to close at $62.35 a barrel on the New York Mercantile Exchange.
Brent crude, the global standard, finished down 81 cents or 1.22% to $65.79 a barrel.
Natural gas as of Tuesday mid-afternoon was down 4.29% on a fall of $0.124 and the price reached $2.766 per MMBtu.
A lot of Oklahoma energy stocks recorded losses on Tuesday with Vital Energy down nearly 7% and Empire Petroleum Corp. off more than 5%.
