Oil Falls on Talks to End Ukraine War and Ahead of Fed Meeting
REUTERS/Eric Gaillard
Oil prices shed as much as $4 a barrel on Monday, extending last week's decline as diplomatic efforts to end the war in Ukraine geared up and markets braced for higher U.S. interest rates, Reuters reports.
Brent crude futures were last down by $3.81 or 3.4% at $108.86 a barrel at 0741 GMT on Monday.
U.S. West Texas Intermediate (WTI) crude futures eased $3.85 or 3.5% to $105.48 a barrel.
Both contracts have surged since Russia's Feb. 24 invasion of Ukraine and are up roughly 40% for the year to date.
Ukrainian and Russian negotiators are set to talk again on Monday via video link after both sides cited progress. read more
Other materials on this subject
- European Central Bank to Raise Interest Rates for 1st Time in 11 Years The move highlights concerns about the 8.1% annual consumer price growth in May, the highest since the statistics began in 1997. The bank's target is 2%.
- U.S. Imposes Sanctions on 27 Gazprombank Executives, Russian TV Stations "This is not a full block. We're not freezing the assets of Gazprombank or prohibiting any transactions with Gazprombank," a senior Biden administration official told reporters. "What we're signaling is...
- Germany Faces Steep Recession if Russian Oil and Gas Halted, Bank Lobby Says "The situation would be even worse if imports or supplies of Russian oil and natural gas were to be halted. A significant recession in Germany would then be virtually unavoidable," Sewing told journalists.
- G7 Rejects Putin's Demand for Rouble Payment for Russian Gas - Germany "All G7 ministers have agreed that this is a unilateral and clear breach of existing contracts," Habeck, who is German economy and climate protection minister, told reporters after a virtual conference...
- EU Leaders Agree on Joint Gas Purchases Last year, the European Commission proposed to the EU countries a system of joint purchases of strategic gas reserves as a way to provide a buffer against possible supply disruptions. Fears of supply disruptions...
Read also
-
Secretary of Supreme National Security Council of Iran arrives in Armenia
-
Turkey Hopes Solution for Grain Corridor Will Be Found within 10 Days: Erdogan
-
EU’s Charles Michel, Azerbaijan’s Aliyev Hold Phone Talk
-
EU May Allocate 500 Bln Euro to Help Ukraine Revive Its Economy: Agency
-
Russian Cargo Ship Detained in Turkey at Kiev’s Request: Ukrainian Ambassador
-
Shoigu Reports to Putin on Liberating Lugansk People's Republic - Defense Ministry
-
Ukrainian Forces Targeted Belarusian Military Facilities: Lukashenko
-
Ukraine Facing Significant Losses on All Fronts: Russian Defense Ministry
-
20:04Civilian Car Damaged as Azerbaijani Forces Target Armenia’s Yelpin Village in Vayots Dzor
-
19:45Pashinyan Receives the Secretary of the Supreme National Security Council of the Islamic Republic of Iran
-
19:03The Secretary of the Security Council Armen Grigoryan Met With Ali Shamkhani
-
18:40Hakob Arshakyan Receives Head of Pan-Armenian Youth Football Association (PAYFA)
-
18:00UK Prime Minister Boris Johnson Resigns
-
17:20NA President’s Statement on Resignation Letter of RA NA Deputy Artur Ghazinyan
-
16:28Meeting of Foreign Minister Ararat Mirzoyan with Secretary-General of the UN World Tourism Organization Zurab Pololikashvili
-
16:17The Government Plans to Establish the Possibility of Granting Deferment from Military Conscription for Students with Priority and Important Professions
-
15:185 Day Weather Forecast in Armenia
-
14:47Futsal World Cup Main Round Draw is Known
-
12:37Armenia PM instruction: Our Departments Need to Work in Coordination with Turkey Departments
-
11:01Feast of the Holy Translators St. Sahak and St. Mesrop
-
10:06Secretary of Supreme National Security Council of Iran arrives in Armenia
-
10:00Lars Road Open For All Types of Vehicles
-
21:20Presentation of the Book "The Artsakh Issue and the Foreign Policy of the Republic of Artsakh" by the Foreign Ministry of Artsakh Took Place in Stepanakert
-
21:14PM Pashinyan Holds Phone Talk with Vladimir Putin
-
18:00Defense Minister: Structural Changes In Armenia Army Leadership Are Necessary
-
17:25Armenia FM Holds Private Talk With Spain Counterpart
-
16:07Explosion Occurred in a Bank in Ashtarak Town
-
15:315-Day Weather Forecast in Armenia
Most read
day
week
month
-
14:28Alexander Leonovich Kemurdzhian, Designer of the First Planet Rover
-
14:36Andranik Iosifyan from Artsakh: Father of Electromechanics, "Chief Electrician" of Missile Technology
-
12:15Michel Matthew Ter-Pogossian, the ''Father'' of Positron Emission Tomography
-
15:05The Foreign Minister of Armenia Met with the Speaker of the National Assembly of Bulgaria
-
10:37Artsakh's NSS Urges Against Spread of Dubious News
-
16:14The People of Artsakh Have the Same Rights as Everyone: Ararat Mirzoyan
-
21:03Artsakh’s NSS Reveals Case of High Treason
-
11:59Armenia is Not Only Russia’s Partner, it is a Strategic Ally, Putin Tells Khachaturyan
-
17:45It Is Necessary to Work Closely to Launch Crisis Prevention Mechanisms: Pashinyan to CSTO Foreign Ministers
-
19:11China Rejects Wuhan Lab Leak Theory, Calls for Investigating US Facilities
Weather
Yerevan
cloudy
Humidity: 32%
Wind: 8.23 km/h
Humidity: 32%
Wind: 8.23 km/h
26 C°
33° 19°
08.07.2022
35° 21°
09.07.2022
Poll