Oil futures are treading water with the market focused on developments around the U.S. peace plan for Russia-Ukraine, which if successful could take away a lot of risk premium that has been holding up prices in the face of oversupply concerns. “Crude oil remains trendless as the bear grip intensifies,” Peter Cardillo of Spartan Capital says in a note.Oil prices are little changed as investors closely monitor developments in Ukraine-Russia peace negotiations, with Brent crude and WTI up 0.1% to $61.84 and $58 a barrel, respectively. Both benchmarks settled more than 1% lower in the previous session after Ukraine told the Trump administration it would sign a U.S.-drafted peace deal. Should we expect a break anytime soon ?
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