Oil prices fall, continuing downward trend from last week

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Oil prices fall, continuing downward trend from last week
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Oil prices fell on Sunday at the start of the session, extending last week's decline, as a U.S. official said Russia was showing signs it might be willing to have substantive negotiations over Ukraine.

NEW YORK - Oil prices fell on Sunday at the start of the session, extending last week's decline, as a U.S. official said Russia was showing signs it might be willing to have substantive negotiations over Ukraine.

Russia's invasion of Ukraine in late February, which Moscow calls a "special operation," has roiled energy markets globally. Brent last week was down 4.8% after hitting $139.13 on March 7. U.S. crude recorded a weekly drop of 5.7% after touching a high of $130.50 on March 7. Both contracts last touched those price peaks in 2008. [O/R]

Russia is showing signs it might be willing to have substantive negotiations over Ukraine, even as Moscow is intent on "destroying" its neighbor, U.S. Deputy Secretary of State Wendy Sherman said on Sunday. Peskov made the comments after Ukrainian presidential adviser Oleksiy Arestovych said Ukraine and Russia were actively conducting talks on Sunday.

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