Let's begin with oil prices that have fallen more than five percent yesterday it is to the lowest level in nearly two weeks it's amid hopes for progress towards the diplomatic and to Russia's invasion of Ukraine it's a development that would boost global supplies while a pandemic linked travel ban in china can cast out on demand recovery Brent futures they were down five point seven seven dollar or five point one percent to settle at 106.90 a barrel while uswti crude was down 6.32 or 5.8 percent to settle at 103.01 it was lowest close for wti since Feb 28 and lowest for Brent since march of First now both benchmarks have surged since Russia's Feb 24 invasion of Ukraine they are up roughly 36 percent so far this year Brent and wti have logged their most volatile 30 days since June of 2020 analysts say oil prices are reflecting a bearish sentiment it's drawn from expectations of positive developments in the latest round of Russia Ukraine Negotiations Russian and Ukrainian delegations held a fourth round of talks yesterday by video link rather than in person in neighboring Belarus as in the past but no progress has been made Ukraine said it held talks with Russia on a ceasefire immediately withdrawal of troops and security guarantees despite fatal shelling of residential buildings and cave analysts at energy consulting group ebw it noted a renewed core weight outbreak in china is leading to rising shutdowns as omicron spreads rapidly it will reduce global energy demand since china is world's largest importer of oil lng and coal Russia's output of oil and gas it condensate it's up to 11.12 million barrels per day so far in march and overall it's going to come down doesn't look like.
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