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Crude oil prices are cheaper: The war between Russia and Ukraine has now ended for almost three years. Donald Trump wants a peace agreement between Russia and Ukraine, which has begun. “I will also meet Russian President Vladimir Putin in this regard,” Trump said. The visit will take place in Saudi Arabia. Crude oil prices have now fallen due to the peace agreement between Russia and Ukraine. Trump’s fees and crude oil prices are affected.
The global crude trademark Brend continues to fall
On Monday, the global benchmark Brent crude fell 20 cents or 0.2% and a barrel of $ 74.59. Since Donald Trump and his administrative officials began to talk to Russia to end the war in Ukraine, Brent Crude prices have fallen by 3.1% in four sessions.
In addition, the West Texas Crude (WTI) of the United States fell 23 cents or 0.3% on Monday and was $ 70.51. WTI has declined 3.8% in the last four sessions and declined to $ 70.12 per barrel on Monday. This is the biggest decline of WTI after December 30.
Learn what the experts said about the fall of crude oil
According to Reuters, Nissan Securities Unit NS trading leader Hiroigi Kikukawa said, “Markets have fallen on the possibility of relaxation of Russia-Ukrainian ceasefire and the possibility of relaxing sanctions on Russia. It also affects the prices of Kacha oil.”
According to experts, “WTI has a barrel of 66-76 for a while, because further reduction of oil prices can prevent US oil production.”
On February 24, 2022, the US and the European Union imposed heavy sanctions on Russia to launch a war with Ukraine, which affected its oil exports. Due to the ban on Russian oil, the supply of oil through the Russian Sea was greatly reduced.
Learn how India benefits from Russia and Ukraine’s Peace Agreement
The third largest consumers of crude oil in the world depend on imports to meet more than 85%of its needs. Therefore, as Russia is India’s best crude oil supplier, India is greatly benefited from the peace agreement between Russia and Ukraine.
Read more: ‘I will be ready to send my army to Ukraine …’
According to Energy Conservation Institute Wordexa, Russian oil was 31% of India’s total crude oil imports in December 2024, and it was 36% in November 2024. India is facing a problem with Russia’s oil trade with Russia due to US sanctions on Russia. There was trouble in paying the purchased oil. But if the sanctions imposed on Russia are lifted, India will benefit.
Moreover, India’s growing economy is based on crude oil, which is greatly affected by the reduction and rise of oil prices. Inflation will decrease if inflation is rising and oil prices rise in India.
When the oil is cheap, the prices of gasoline and diesel also decrease, which reduces the cost of transportation. This reduces the price of goods.
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