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Oil falls below US$100 as Russia signals de-escalation in Ukraine

BNN: 'Oil slumped as Russia said it was taking steps to “de-escalate” the conflict in Ukraine, while floating the possibility of a meeting between President Vladimir Putin and his Ukrainian counterpart Volodymyr Zelenskiy.

'West Texas Intermediate futures declined as much as 7.1 per cent, dropping below US$100 a barrel -- the latest in a sequence of huge swings across the oil market. Moscow said it would sharply cut military operations near the Ukrainian capital of Kyiv, though troops had already been bogged down there for weeks. Russia’s chief negotiator said there is a willingness to consider a presidential meeting between Putin and Zelenskiy. Kyiv has long sought direct talks, while Moscow had resisted committing to Putin’s participation.'

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