On the eve of the US-Russia officials meeting, oil prices remain stable

On February 17, Golden Data reported that oil prices held steady in early trading, with US officials preparing to meet with officials from Saudi Arabia and Russia to seek a solution to the Russia-Ukraine conflict. Brent and WTI pumped 0.4% respectively. An analyst at ANZ Bank stated, "The price difference between WTISpot and near-month futures contracts is currently $0.01 per barrel, compared to $1.52 per barrel a month ago. This indicates a relatively weak current demand for physical oil." If Russia and Ukraine reach a peaceful agreement, it could lead to the lifting of Western sanctions and the partial restoration of Russian oil supplies to Europe. Meanwhile, the President of the Kurdistan Region of Iraq stated that oil exports may resume next month, after the region's oil exports have been suspended for almost two years.