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macroJun 22, 2026, 4:40 PM

Oil Prices Slide on Renewed Peace Talks Optimism

Oil prices fell sharply on Monday as optimism about peace talks between Russia and Ukraine dampened supply concerns, reversing earlier gains from a gap higher at the weekly open.

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Crude oil prices declined on Monday after fresh optimism over Russia-Ukraine peace talks weighed on supply fears. Brent crude dropped nearly $4 during the session, erasing an initial gap higher that had followed earlier concerns that negotiations were stalling. The shift came as top US officials struck a more hopeful tone regarding a potential resolution.

WTI crude also moved lower, with the broader energy complex coming under pressure as the risk premium tied to geopolitical instability receded. Market participants are now monitoring diplomatic developments closely for further triggers.

Source: FXStreet Forex News