Oil prices fell on Wednesday after Russia agreed to an American proposal to stop the attacks on the Ukrainian energy infrastructure, which increased the possibility of increasing Russian oil supplies in global markets.
Brent crude futures decreased by 0.16 % to $ 69.97 a barrel by 1130 GMT, while crude in West Texas West (WTI) decreased by 0.18 % to $ 66.78. The decline was followed after the decision of Russian President Vladimir Putin to stop targeting Ukrainian energy facilities, although he had not committed to a 30 -day full shooting that US President Donald Trump is requested.
The agreement relieves concerns about display disorders, but the export of Russian oil is still restricted by sanctions. Although this step indicates a step towards market stability, immediate changes in global energy flows are not likely.
Meanwhile, fears of economic slowdown pressure oil prices more. American definitions added to Canada, Mexico and China concerns about the weakest of global trade and energy demand. Investors also focus on the US Federal Reserve Policy meeting, where interest rates are expected to remain unchanged in the range of 4.25 % -4.50 %.
Geopolitical tensions in the Middle East continue to add uncertainty. The Israeli air strikes in Gaza, which ended the ceasefire for a long time, and the ongoing turmoil in the Red Sea have raised concerns about supply routes. Trump also repeated US military actions against the Houthis Yemen and warned Iran against further participation.
In the United States, crude stocks rose by 4.59 million barrels per week ending March 14, while gasoline inventory lists decreased by 1.71 million barrels and distillation shares decreased by 2.15 million barrels, according to industry data. The official report of the Energy Information Department is scheduled to be later in the day.
