Oil prices find little support from the first drop in U.S. supplies in 5 weeks

Oil futures hit their lowest levels of the year amid concerns about the global economic outlook and the potential for a ceasefire in Russia’s war on Ukraine. The market’s weak tone is driven by fears that a halt to the conflict could lead to the lifting or easing of sanctions on Moscow, impacting oil prices significantly. Traders are closely monitoring developments in the geopolitical landscape that could influence the direction of oil markets in the near future.

Full Article