Exxon, Chevron Weaker as Russia-U.S. Talks Hold Hope -Breaking
By Dhirendra Tripathi
Investing.com – Shares of Exxon Mobil (NYSE: Chevron On Monday, (NYSE:) was slightly less traded due to renewed optimism about a diplomatic solution for the continuing tensions between Russia and Ukraine.
Exxon fell 1.7% while Chevron fell 2.1% as crude prices eased amid signs of a concession by Ukraine to Russia, though a final word isn’t out on it yet. Numerous European officials and American officials claim that the Russian invasion invading Ukraine may happen anytime.
According to Bloomberg, Russian President Vladimir Putin said, “All right” in response to Russia Foreign Minister Sergei Lavrov’s suggestion talks with the U.S. and its allies on its demands for security guarantees in Europe should continue. Russia is also demanding a ban to further NATO expansion.
Putin later met Sergei Shoigu the Defense Minister, and he reported that many of the large-scale military exercises currently underway were already completed. He didn’t specify plans for returning the troops to their bases, but other officials have said they will go back once the operations are over.
According to the comments, Kremlin may continue to make diplomatic efforts in order to alleviate tensions.
Russia must withdraw approximately 130,000 troops, the U.S. claims. They are allegedly positioned near Ukraine’s border.
WTI Crude dropped 66 cents (or 0.8%) to $92.33/barrel at 0920 ET. This was after it had touched a multi-year peak of $94.92 earlier today.
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