March gasoline shed 0.3% to $2.0831 a gallon
Oil prices fall on prospect of Russia-Ukraine peace talks
Oil futures declined on Thursday, on track to post back-to-back losses a day after President Donald Trump said that he and President Vladimir Putin of Russia had agreed to begin talks on ending the war in Ukraine.
Price moves
-- West Texas Intermediate crude for March delivery fell 43 cents, or 0.6%, to $70.94 a barrel on the New York Mercantile Exchange after losing 2.7% Wednesday.
-- April Brent crude, the global benchmark, was down 72 cents, or 1%, at $74.46 a barrel on ICE Futures Europe.
-- March gasoline shed 0.3% to $2.0831 a gallon, while March heating oil HOH25 lost 1.3% to $2.4192 a gallon.
-- Natural gas for March delivery traded at $3.767 per million British thermal units, up 5.7%.
Market drivers
Oil snapped a three-day winning streak Wednesday, with pressure tied to data from the Energy Information Administration showing another rise in U.S. crude inventories, a hotter-than-expected January consumer-price index reading that saw traders further cut expectations for Federal Reserve rate cuts, and uncertainty tied to Trump's trade policies.
