Crude oil futures are reversing recent gains as expectations rise for a peace deal between Ukraine and Russia, potentially easing sanctions and reducing supply disruption risks. Rising U.S. crude inventories, which have outpaced demand, have created a bearish sentiment in the market. Concerns about President Trump's possible tariffs further contribute to fears of reduced global economic growth, affecting oil demand. Increased volatility is expected as traders watch for economic data from major economies including the U.S. and China that could influence oil demand.
Crude oil futures are in decline due to potential peace talks between Ukraine and Russia and rising U.S. crude stocks indicating supply outpacing demand.
The combination of a possible reduction in sanctions and increasing inventories is contributing to volatility in oil prices, reflecting the uncertainty in the market.
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