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WTI Crude Extends Losses as Ukraine Peace Talks Raise Supply Concerns
Commodity
Summary:
WTI crude oil extends losses amid optimism over a potential Ukraine-Russia peace deal, raising concerns about renewed oversupply in the global oil market.
Sell
TradingWTI
EXP
58.000
Entry Price
55.000
TP
59.500
SL
58.908 -0.086 -0.15%
0
Point
Flat
55.000
TP
CLOSING
58.000
Entry Price
59.500
SL
West Texas Intermediate (WTI) crude oil continued to slide on Wednesday, trading around $57.80 per barrel during European hours, marking its second consecutive session of losses. The decline follows a 1.70% drop in the previous session, driven largely by growing optimism over a potential resolution to the ongoing Ukraine-Russia conflict.
Market attention has been focused on statements from Ukrainian President Volodymyr Zelenskiy, who indicated his willingness to advance discussions on a US-backed plan aimed at ending the war. Zelenskiy emphasized his readiness to negotiate remaining contentious issues with US President Donald Trump and key European allies, signaling a possible breakthrough that could reshape global energy markets.
Analysts suggest that a peace agreement could trigger the easing of Western sanctions on Russian oil producers, including major players such as Rosneft and Lukoil. Since the imposition of sanctions, Russian crude exports have been heavily restricted, contributing to tight flows and elevated oil prices. A relaxation of these measures could flood the market with additional supply, intensifying concerns over global oversupply, particularly as output from other major producers has already pushed production above demand.
Commerzbank highlighted that sanctions and restrictions have led some Indian refiners to cut their intake of Russian oil, which in turn has lowered exports and increased crude volumes held in floating storage. If sanctions were lifted, these stored barrels could quickly re-enter the market, further weighing on prices.
Despite the bearish sentiment from geopolitical developments, recent US inventory data has offered mixed signals for traders. The American Petroleum Institute (API) reported a 1.9 million barrel draw in US crude oil stocks for the week ending November 21, 2025, following a 4.4 million barrel build in the prior week. This marked the first inventory reduction after three consecutive weekly increases, providing only a limited cushion against broader bearish pressures in the market.
Technical Analysis 
From a technical perspective, WTI crude has faced growing downward pressure. In intraday trading, prices tested a minor bearish trend on the short-term charts, exacerbated by trading below the 50-day Exponential Moving Average (EMA50). Additionally, relative strength indicators (RSI) are showing overlapping negative signals, suggesting that bullish momentum is fading and that further declines may be imminent.
If the current support level around $57.00 is breached, WTI could move toward $56.00 per barrel. A breakdown below $56.00 would open the door to further losses, potentially testing $55.00 in the near term. Traders and investors are closely watching these technical levels alongside geopolitical developments, as the interplay of both factors is likely to dictate short-term market direction.
TRADE RECOMMENDATION
SELL WTI
ENTRY PRICE: 58.00
STOP LOSS: 59.50
TAKE PROFIT: 55.00
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