Oil Prices Steady Amid Ukraine Peace Talks and Supply Concerns

Corporate Finance Institute

An Oil field.

Oil prices held firm on Wednesday as markets awaited progress in Ukraine peace talks while weighing global supply risks.

Brent crude futures traded at $65.90 a barrel, marginally higher than the previous session, while U.S. West Texas Intermediate (WTI) stood at $62.40.

Traders remain cautious as negotiations between Washington, Moscow and Kyiv could ease sanctions on Russian oil. Meanwhile, flooding at BP’s Indiana refinery has disrupted output, adding uncertainty to supply. Falling U.S. crude inventories have also provided some support, underpinning expectations of resilient demand.


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