The United States and Ukraine were set to resume work on a revised plan for the peace deal ahead of a Thursday deadline set by US President Donald Trump, after having agreed to adjust an earlier version that critics said was too favourable to Moscow.

Brent crude futures were unchanged at $62.56 per barrel, while West Texas Intermediate was down 2 cents, or 0.03%, at $58.04 a barrel. Both benchmarks hit their lowest settlements since October 21.

“The sell-off was triggered mainly by Trump’s forceful push for a Russia-Ukraine peace deal, which markets see as a fast track to unlocking substantial Russian supply,” IG analyst Tony Sycamore wrote in a note.

–Reuters–