Ceasefire Speculation Tests Oil’s Floor

Oil fell 2.5% on Tuesday morning following reports that Ukraine has mostly agreed to a peace deal with the U.S. European Gas Prices Chill at Lowest Levels Since May 2024 - European gas prices have fallen below the €30 per MWh threshold (the equivalent of $11 per MMbtu) as the triple whammy of Russia-Ukraine peace talks, warmer weather and ample supply lowered the TTF benchmark to its lowest since May 2024. - Following a brief cold spell that brought this winter season’s first snow, temperatures across ...