WTI Crude Oil Steady Near $63.50 as Peace Hopes Fade in Russia–Ukraine Conflict
WTI crude oil prices are holding firm around $63.40–$63.50 per barrel during Asian trading on Friday. After two small sessions of gains, oil is staying steady as optimism for a Russia–Ukraine peace deal fades. The conflict continues to add a risk premium to global oil markets, keeping traders cautious.
Analysts warn that arranging a meeting between Russian President Putin and Ukrainian President Zelenskiy is becoming harder. Discussions about security guarantees are also losing momentum. With peace talks looking weaker, traders fear the possibility of tougher U.S. sanctions on Russia, which could reduce supply and support oil prices.
At the same time, U.S. crude oil inventories fell sharply by about 6 million barrels, much higher than market expectations. This drop signals strong demand and adds further support to WTI oil prices.
Overall, fading hopes of a ceasefire and strong U.S. demand are keeping oil stable near $63.50, with traders closely watching geopolitical headlines and energy market updates.
Impact:
WTI crude might stay supported if peace talks remain stalled. However, any signs of progress in the Russia–Ukraine conflict could possibly ease oil prices in the near term.
