Oil Prices Drop Amid Trump's Peace Plan, U.S. Sanctions

Oil prices plummeted this past Friday, with energy stocks also taking a hit, as former U.S. President Donald Trump reportedly pushed for a peace deal between Russia and Ukraine. Brent crude futures dropped two percent, and U.S. West Texas Intermediate futures fell two point four percent. Major companies like Shell, BP, and Siemens Energy also saw significant losses. The proposed peace plan, which includes Ukraine giving up land and promising not to join NATO, was met with skepticism from analysts. Additionally, new U.S. sanctions against Russian oil producers and the stronger U.S. dollar contributed to the bearish market sentiment.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.