15th April 2014
West Texas Intermediate (WTI) crude oil futures have declined in commodities trading markets today (April 15th), amid suggestions a diplomatic resolution may be found to bring an end to the tensions in Ukraine.
The US and the European Union have said they will consider implementing further sanctions against Moscow after pro-Russian separatists failed to leave government buildings they were occupying in eastern Ukraine before an imposed deadline.
A meeting has been scheduled to take place in Geneva on Thursday and it has been suggested a political resolution may be found.
In addition, investors have also expressed caution ahead of the publication of US inflation figures later today. This comes after a report yesterday showed American retail sales increased by more than anticipated in March.
On the Comex Division of the New York Mercantile Exchange, WTI for May delivery declined by as much as 0.72 per cent to $103.29 per barrel in early European trading, having ended the previous session up by 0.3 per cent at $104.05 per barrel.
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