Oil Down Amid Geopolitical Developments, U.S. Rate-Cut Uncertainty

Core Viewpoint - Oil prices are experiencing fluctuations due to geopolitical developments and uncertainty surrounding U.S. interest rate cuts, with Brent crude and WTI both showing declines [1]. Oil Market Summary - Brent crude is down 0.9% to $62.82 per barrel, while WTI has slid 1.1% to $58.40 per barrel, following a drop of approximately 2% earlier in the session [1]. - Investors are focusing on a U.S.-drafted plan aimed at ending the war in Ukraine, which is influencing market sentiment [1]. Regulatory Context - The U.S. has set a deadline for companies to suspend purchases of crude from Russian firms Rosneft and Lukoil, which is relevant to the current oil market dynamics [2].