Oil Falls as Possible Russia Air Truce Eases Crude Supply Risks

Oil fell for the fourth straight session as Russia weighed concessions to US President Donald Trump that may include an air truce with Ukraine.

West Texas Intermediate crude slid 1.7% to settle near $65 a barrel, adding to a declines over the previous three sessions. Bloomberg reported that the Kremlin is weighing options, including a pause on air strikes, to try to fend off Trump’s threat of secondary sanctions. Crude bounced from intraday lows after the Financial Times reported that Trump is considering blacklisting Russia’s so-called “shadow fleet” of oil tankers if Putin doesn’t agree to a ceasefire by Friday.