Oil Prices Stabilize As Bullish And Bearish Catalysts Clash

Last week, Crude oil prices posted their biggest one-week loss in nearly two years thanks to an apparent breakthrough in peace talks between Russia and Ukraine. Front-month U.S. WTI crude (CL1:COM) plunged 12.8% to $99.27/bbl and while Brent (CO1:COM) fell 11.1% to $104.39/bbl, the biggest weekly percentage declines for both benchmarks since late April 2020. There was no shortage of bearish news for the oil markets. Previously, European countries walked back threats of sanctioning Russian oil after Russia promised to scale down military operations…