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Crude prices plunge amid ample supply, Russia-Ukraine progress
Business World Philippines
|December 18, 2025
Crude oil futures settled at their lowest level since February 2021 on Tuesday amid ongoing jitters surrounding oversupply and as the prospect of a Russia-Ukraine peace deal appeared to strengthen, raising expectations sanctions could be eased.
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Brent crude futures settled down $1.64 a barrel, off roughly 2.71%, to $58.92 a barrel, while US West Texas Intermediate (WTI) crude closed at $55.27, down $1.55, or 2.73%.
"Brent has dropped this morning to below $60 per barrel for the first time in months, as the market assesses a potential peace deal resulting in additional Russian volumes becoming available and oversupplying the market further," said Rystad analyst Janiv Shah.
Cette histoire est tirée de l'édition December 18, 2025 de Business World Philippines.
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