Yesterday's nearly $10 decline in US crude was the third worst day on record in terms of nominal decline and the 27th worst in terms of percentage decline. It looks like we will tack on another huge loss with WTI trading at $99.43.
All the selling came after Russian and Ukrainian negotiators said they had made enough progress for Putin and Zelensky to potentially meet.
The proposals will include Russia dramatically scaling down its military operations around Kyiv and Chernihiv.
