Brent crude oil slipped as much as 5.5 per cent this week to $60.18 a barrel – nearing lows last seen in May and early 2021. Photograph: Michael Santiago/Getty Images
US president Donald Trump and the red caps may not have won over Oslo with their unseemly lobbying for the 2025 Nobel Peace Prize, but his Gaza truce and vow to tackle Ukraine next have swayed one crowd: oil traders.
The price of Brent crude oil slid as much as 5.5 per cent this week to $60.18 a barrel – nearing lows last seen in May and, before that, in early 2021.
Down 21 per cent so far this year, oil remained under pressure on Friday after the US president said he would hold a second meeting with Russian counterpart, Vladimir Putin, “within two weeks or so” aimed at ending the war in Ukraine.
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