Oil Prices Slide Below $60 as Ukraine Peace Talks and Weak China Data Stoke 2026 Supply-Glut Fears
December 16, 2025 — Oil prices pushed lower on Tuesday, with Brent crude dipping under the psychologically important $60-a-barrel mark as traders weighed two powerful forces hitting the market at once: rising optimism that Russia-Ukraine peace negotiations could eventually loosen constraints on Russian supply, and fresh evidence that China’s demand engine is losing momentum. By early afternoon in Europe, Brent crude futures were down about 1.3% at $59.75 a barrel, while U.S. West Texas Intermediate (WTI) traded near $55.98, down roughly 1.5%. Reuters The move takes crude toward the lower end of a multi-month slide that has been driven less