Crude oil futures settle lower on US’ new Ukraine peace plan
Ukraine President Volodymyr Zelenskyy has offered to work constructively with the U.S. to end the war on any plan that does not affect his country's national interests
Crude oil futures settled lower on Friday as U.S. President Donald Trump pushed for a peace deal to end the long-running Russia-Ukraine war. The U.S. has reportedly proposed that Ukraine cede land including Crimea, Luhansk and Donetsk, and pledge never to join the NATO military alliance. Trump's administration has prepared a 28-point peace plan, the draft of which is being deeply analyzed by Ukraine and Russia as well as a few other countries in Europe. Meanwhile, Ukraine President Volodymyr Zelenskyy has offered to work constructively with the U.S. to end the war on any plan that does not affect his country's national interests.
Benchmark crude oil futures for January dropped $0.94 or 1.59% at $58.06 a barrel on the New York Mercantile Exchange. Brent crude for January delivery declined $0.82 or 1.29% to settle at $62.56 a barrel on London's Intercontinental Exchange.
