Oil Prices Slide As Trump Pushes Russia-Ukraine Peace Plan

Benzinga

Oil and energy stocks fell Friday as Trump pushed a draft peace plan for the Russia-Ukraine war, sending Brent down 1.6% to $62.38 and WTI down 2% to $57.85. European oil majors and U.S. producers traded lower as analysts doubted Ukraine would accept terms requiring territorial concessions and limits on its military. Traders also weighed new U.S. sanctions on Rosneft and Lukoil, a stronger dollar, and the upcoming Fed decision.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Oil prices and energy stocks fell in early Friday trading as Trump pushed for a peace deal

00:06to end the Russia-Ukraine war, according to CNBC.

00:09Red Crude fell 1.6% to $62.38 and is down more than 16% for the year.

00:16Wex Tessa's Intermediate fell 2% to $57.85 after a 0.5% drop the previous day.

00:22European oil majors declined, with Shell, BP, Ecuador, and Siemens Energy all trading lower,

00:28while Exxon Mobil and Chevron edged down in pre-market trade.

00:31A reported draft plan proposed that Ukraine's seed territory, including Crimea, Lusoxx, and Donkens,

00:37forego NATO membership, and Cabot's armed forces at 600,000 personnel.

00:42Analysts expressed doubt that Ukraine would agree to the terms.

00:45Traders also watched new U.S. sanctions on Rosneft and Lug Oil, a stronger dollar in the upcoming Fed decision.

00:51For all things money, visit Benzinga.com.

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