Vladimir Putin announced that Kyiv is not eager to make peaceful concessions in the face of the war in Ukraine. Additionally Russia put sanctions on President Biden and other American politicians and submitted a request to leave the council of Europe, according to Tass. This news again brought back risk-off sentiment to the markets. The German DE30 fell nearly 1% after the announcement. Gold and oil slightly gained. However, it is worth remembering that today's session brings a continuation of the downward movement on the crude oil market. WTI prices fell nearly 6.0% and trades around $ 97.00 a barrel. Brent oil is doing marginally "better", losing almost 5%. Oil prices erased almost all gains resulting from the outbreak of the war in Ukraine.
Today, WTI crude oil tested its 50-day exponential moving average (blue line). Source: xStation5
Chart of the Day: Brent crude falls despite Trump's words about no desire to negotiate
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