Oil prices surged nearly 3% on Wednesday after peace talks between Ukraine and Russia in Geneva ended abruptly after only two hours. The failure to reach a breakthrough heightened market fears that sanctions and supply restrictions on Russian oil will persist longer than previously anticipated. Brent crude for April delivery was up 2.74% to trade at $69.15 per barrel at 8.20 am ET in Wednesday’s morning session while WTI crude for March delivery gained 2.79% to change hands at $64.05 per barrel. Ukrainian President Volodymyr Zelenskiy called…
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