March 14, 2022 10:53 AM
At 09.08 GMT+1, Brent crude, the global oil benchmark, shed 3.20 percent, trading at $109.1 a barrel.reportthe development is coming on the heels of the meeting to be held between Ukrainian and Russian negotiators on Monday via video link after both sides cited progress.Negotiators had given their most optimistic assessments after weekend negotiations, hinting there could be positive results within days.
On Russia’s invasion of Ukraine, oil prices had skyrocketed amid oversupply fears in the global oil market.Russia, a major oil exporter, accounts for about 7 million barrels per day of crude and refined fuel, representing aroundOn the other hand, the US Federal Open Market Committee would meet from March 15 to March 16 to make decisions regarding the raising of interest rates.
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