💨 Abstract

Oil prices dropped to two-month lows on Wednesday due to a surprise increase in U.S. fuel stockpiles and potential peace talks between Russia and Ukraine. The EIA reported a build in gasoline and distillate inventories despite a fall in crude oil stockpiles. The market is also monitoring the implications of a minerals deal between the U.S. and Ukraine, which could lift Russian sanctions and ease supply uncertainty.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖