Crude oil futures ended lower on Monday as investors kept an eye on developments in the Russia-Ukraine, with the potential for a peace deal weighing on oil prices. Ukrainian President Volodymyr Zelenskyy has offered to drop Ukraine's aspirations to join the NATO military alliance following talks with the United States. The hopes of peace deal between Russia and Ukraine have overshadowed worries over potential supply disruptions due to rising tensons between the United States and Venezuela.
Benchmark crude oil futures for January decreased $0.62 or 1.08% at $56.82 a barrel on the New York Mercantile Exchange. Brent crude for February delivery declined $0.56 or 0.92% to settle at $60.56 a barrel on London's Intercontinental Exchange.
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