Oil falls 2% amid peace talks between Russia and Ukraine

Oil prices fell about 2% as talks progressed between Russia and Ukraine, although negotiators from Moscow said a pledge to reduce some military operations did not constitute a ceasefire, and new closures in China to limit the spread of the Corona virus raised concerns about Chinese demand for oil.

Ukrainian and Russian negotiators met in Turkey for their first face-to-face discussions in nearly three weeks. attack . Brent crude futures fell $2.25, or 2%, to $110.23 a barrel, and US West Texas Intermediate crude futures fell $1.72, or 1.6%, to $104.24 a barrel.