WTI crude is down $1.80 to $58.94 today and at fresh session lows.
Oil has been under pressure since an earlier report that the Trump administration had been secretly consulting with Russia to draft a new plan to end the war in Ukraine. Notably, the plan seems to include a post-war framework for the relationship with Russia, which could clear the way for energy exports.
WTI crude oil daily
This week Goldman Sachs highlighted the oversupply of the oil market that's coming in 2026 and laid out a path for a bottom in the $50s around this time next year.
