Commodities
Ukraine-Russia Talks Collapse: Oil Prices Jump Amid Escalating Tensions
Oil prices surged nearly 3% on Wednesday after Ukraine peace talks with Russia in Geneva ended abruptly, sparking concerns of escalating tensions.
The sudden end to negotiations led Ukrainian President Volodymyr Zelenskiy to accuse Russia of intentionally stalling progress towards a deal to end the four-year-old conflict.
Russian chief negotiator Vladimir Medinsky described the talks as 'difficult but business-like,' hinting that another round would take place soon.
Meanwhile, Iran and the US reached an understanding on 'guiding principles' in nuclear talks, but no deal is imminent, according to Iranian Foreign Minister Abbas Araqchi.