Commodities
Oil Snaps Losing Streak as Markets Rebound, Russia Talks Stall
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Oil snapped a seven-week losing streak as US equity markets rebounded and peace talks between Russia and Ukraine stalled, damping expectations that Moscow’s crude will return to the market soon.
West Texas Intermediate rose almost 1% to settle above $67 a barrel, supported by a weaker dollar and an advance in US equities. Brent climbed to settle below $71. Russian President Vladimir Putin said Ukrainian troops in the Kursk region should lay down their arms, and Ukraine pushed back on the request, raising doubts about how soon a ceasefire could be achieved.