WTI Crude Hits Two-Month Low on Russia–Ukraine Peace Optimism

WTI crude oil dipped to around $63.30 per barrel, marking its weakest level in over two months, as rising optimism over U.S.–Russia peace talks and eased supply fears weighed on prices

Key Factors:
Peace optimism driving down risk premium: Traders are responding to President Trump’s announcement of a meeting with President Putin on August 15, raising hopes for a ceasefire. This has reduced geopolitical risk pricing in oil markets.

OPEC+ adds pressure with output hike: A planned increase in production from OPEC+ has further pushed prices lower amid expectations of easing supply constraints

Policy and inflation data in focus: Market watchers are also keenly observing upcoming U.S. inflation figures, which could shape Federal Reserve policy—and indirectly influence oil demand.

Stay ahead of market trends with the Credco app. For any queries, reach out via WhatsApp at ‪+918448083211‬.