Summary: Oil prices fell on expectations of a ceasefire in Ukraine, which could lead to the lifting of Western sanctions on Russian oil. This, coupled with a larger-than-expected rise in U.S. crude inventories, weighed on the market. However, expectations of a U.S. Federal Reserve interest rate cut in December provided some support to crude prices.

Link: https://www.channelnewsasia.com/business/oil-prices-drop-expectations-ceasefire-in-ukraine-unlocking-russian-supply-5492936