Here’s How Crude Oil WTI Futures Are Reacting

On By Littum

Crude oil WTI futures saw a slight increase after a significant phone call between the president-elect Donald Trump and Russian President Vladimir Putin.

What happened: At the time of writing, Crude Oil WTI Futures were up 0.18% at $70.25 a barrel on Monday in pre-market trading.

Don’t miss:

President-elect Trump reportedly spoke by phone with President Putin on Thursday, marking their first interaction since Trump’s election victory, The Washington Post reported on Sunday. Trump urged Putin to refrain from escalating the Ukraine conflict, highlighting the significant US military presence in Europe. The dialogue also included discussions on achieving peace across Europe, with Trump expressing interest in further negotiations to expedite a resolution of the Ukraine issue.

Trending: This Adobe-backed AI marketing startup went from a $5 million valuation to $85 million by working with brands like L’Oréal, Hasbro and Sweetgreen in just three years – here’s how there is a limited time opportunity to invest $1,000 for only $0.50/share before the closing date.

This development could have contributed to an increase in Crude Oil WTI Futures. The market often reacts to potential de-escalation in geopolitical tensions, which could ease supply concerns and potentially lower prices.

Why it matters: The phone call between Trump and Putin comes amid heightened scrutiny of Russian oil trading. The US Department of Justice has stepped up efforts to enforce sanctions against Russia’s energy exports. This includes research Murtaza Lakhani and his ties to Rosneft Oil, a Russian state-backed energy giant in 2023.

Trending: During market downturns, investors learn that unlike stocks high yield real estate bonds paying 7.5% – 9% are protected by resilient assets that buffer against losses.

In addition, Russian oil has found its way to American shores through a sanction-breaking loopholedespite a ban on imports following Russia’s invasion of Ukraine.

Oil prices have been volatile recently, with OPEC+ recently delayed production increases ahead of the US election, causing a rise in prices.