News > Oil prices shed $4 a barrel, extending losses ahead of Fed meeting

Oil prices shed $4 a barrel, extending losses ahead of Fed meeting

Business Standard | 14/03/2022 12:51 PM | Click to read full article

Oil prices shed as much as $4 a barrel on Monday, extending last week's decline as diplomatic efforts to end the war in Ukraine were stepped up and markets braced for higher U.S. rates. Brent crude futures were last down by $3.05 or 2.7% at $109.62 a barrel at 0351 GMT on Monday.

Russia and Ukraine gave their most upbeat assessments after weekend negotiations, suggesting there could be positive results within days.