Wednesday’s trading brought a 1% slide in crude oil prices as they reached an eight-week low.
The President’s comments about talks to persuade Russia to end its war with Ukraine created more uncertainty with investors whether he might move forward with new sanctions on Putin.
Reuters reported those moves marked a fifth consecutive day of losses for both crude benchmarks, with Brent closing at its lowest since June 10 and WTI closing at its lowest since June 5.
Global standard Brent crude dropped 75 cents or 1.1% to close at $66.89 a barrel.
U.S. standard, West Texas Intermediate crude fell 81 cents or 1.2% to finish at $64.35 a barrel on the New York Mercantile Exchange.
Natural gas saw a gain of $0.069 or 2.29% to settle at $3.07 MMBtu.
Oklahoma’s energy stocks experienced more losses than gains. LSB Industries dropped 4% and Stardust Power finished down about 3%. Gains were moderate for a handful of others.