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2025.12.1501:37:42UTC+00Oil Hovers Near 2-Month Lows

WTI crude oil futures climbed to $57.6 per barrel on Monday but hovered near a two-month low amid ongoing oversupply concerns. Investors are closely watching the new phase of Ukraine peace negotiations. Over the weekend, President Volodymyr Zelensky engaged in a series of discussions with top envoys of US President Donald Trump to explore a US-endorsed plan aimed at resolving the conflict with Russia. Despite these diplomatic endeavors, clashes persist on the ground; Ukrainian drone strikes have targeted oil depots and refineries across various Russian regions. In other developments, the US has heightened its military presence in Venezuela, an important oil exporter, following President Trump's increased pressure on the nation. Concurrently, Iran announced it had captured a foreign tanker in the Gulf of Oman, accusing it of fuel smuggling.

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