Oil extended losses on Russia-Ukraine talks, US inventories

International benchmarks for crude oil registered another day of reduction on Wednesday, 16 March 2022 following the positive outcome from the Russia-Ukraine talks, and the surprising piled up in US commercial crude inventories. The energy market has dropped five out of six trading days. 

Brent fell $1.89 or 1.9% to close at $98.02/barrel. 

WTI ended the session losing $1.4 or 1.5% to $95.04/barrel.