Oil prices recovered on Wednesday after falling in the previous session to their lowest levels in about a month, against the backdrop of indications that Ukraine is nearing a peace agreement with Russia — a step that could pave the way for lifting sanctions on Russia’s energy sector.
Brent crude rose 0.3 percent to 62.72 dollars per barrel, while West Texas Intermediate gained 0.4 percent to 58.18 dollars per barrel. Both benchmarks had ended yesterday’s trading down by about 89 cents. The decline came after Ukrainian President Volodymyr Zelensky informed European leaders of his readiness to proceed with a U.S.-sponsored framework to end the war.
