Oil prices dip as traders assess US-Russia talks and ongoing attacks on Moscow energy assets
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CNBC TV18•03/12/2025
Oil prices dip as traders assess US-Russia talks and ongoing attacks on Moscow energy assets
- •Oil prices held steady as traders assessed the impact of high-level talks between the US and Russia on the Ukraine war.
- •West Texas Intermediate was below $59 a barrel, while Brent closed near $62.
- •President Putin held talks with US envoys but no agreement was reached to end the war in Ukraine.
- •Geopolitical tensions, including attacks on Russian energy assets, are adding a risk premium to oil prices.
- •US crude stockpiles increased by about 2.5 million barrels last week, according to an industry report.
Why it matters: Oil price volatility affects global energy costs and economic stability.
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