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Crude oil futures end slightly lower as geopolitical concerns ease

14 Feb 2025 Evaluate

Crude oil futures ended slightly lower on Thursday as geopolitical concerns eased a bit on hopes of an end to the Russia-Ukraine war after U.S. President Donald Trump spoke to presidents of Russia and Ukraine over phone. After a phone call between U.S. President Donald Trump and Russian President Vladimir Putin, there are expectations that a potential peace deal between Ukraine and Russia would usher in the end of sanctions affecting supply flows. Besides, recent data showing a bigger than expected increase in crude inventories in the U.S. weighed on oil prices.

Benchmark crude oil futures for March fell $0.08 or 0.11 percent to settle at $71.29 a barrel on the New York Mercantile Exchange. Brent crude for April delivery declined $0.16 or 0.21 percent to settle at $75.02 a barrel on London's Intercontinental Exchange.