Crude oil futures ended lower on Tuesday, extending their previous session’s losses, amid easing worries about global crude supply after reports said Russia and Ukraine made some encouraging progress in their face-to-face peace talks in Turkey. According to private report, Russia's deputy defense minister has said that Russia has decided to drastically cut its military activity focused on Kyiv and Chernihiv. Ukrainian negotiators said Ukraine proposed adopting neutral status in exchange for security guarantees at the talks, meaning it would not join military alliances or host military bases.
Benchmark crude oil futures for May delivery fell $1.72 or 1.6 percent to settle at $104.24 a barrel on the New York Mercantile Exchange. Brent crude for May delivery dropped $2 or 2.25 percent to settle at $110.23 a barrel on London's Intercontinental Exchange.