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Crude oil futures settle sharply lower on Tuesday

17 Dec 2025 Evaluate

Crude oil futures ended sharply lower on Tuesday as hopes of Russia-Ukraine peace deal and lingering concerns about oversupply continue to weigh on crude oil prices. Investors showed optimism over Ukraine peace talks after U.S. President Donald Trump claimed fresh progress in peace talks. Under a U.S.-led peace deal, Ukraine would get security guarantees similar to those afforded NATO members. He added that Russia is open to Ukraine joining the European Union, but issues around territory remain. 

Benchmark crude oil futures for January decreased $1.55 or 2.73% at $55.27 a barrel on the New York Mercantile Exchange. Brent crude for February delivery declined $1.64 or 2.71% to settle at $58.92 a barrel on London's Intercontinental Exchange.

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