Gasoline prices today December 3: Prices reverse to decrease due to concerns about oversupply, Russia-Ukraine peace plan uncertain

Oil prices fell 1% on Tuesday as the market weighed "fragile" hopes for a Russia-Ukraine peace deal and oversupply concerns.

Price Brent crude fell 72 cents ( -1.14% ) to $62.45/barrel , while WTI crude fell 68 cents ( -1.15% ) to $58.64/barrel.

Price Brent and WTI both rose more than 1% in Monday's session.

According to Reuters , investors turned their attention to Russia -Ukraine peace talks as Russian President Vladimir Putin met with US President Donald Trump's special envoy, Steve Witkoff, and Jared Kushner - his son-in-law. Trump - at the Kremlin today Tuesday.

Oil prices remain manageable amid hopes of a breakthrough in Russia-Ukraine peace talks that could lift restrictions on Russian oil supplies, but hopes could be dashed and the market could face even greater risks of supply disruptions as both sides remain focused on energy, said Clayton Seigle, a senior fellow at the Center for Strategic and International Studies.

Fresh concerns about oversupply that are weighing on oil prices are being balanced by attacks on Russian infrastructure over the weekend and tensions between the US and Venezuela.

The Caspian Pipeline Corporation said on Monday it had resumed oil shipments from a Black Sea port anchorage following a Ukrainian drone attack on Saturday.

Meanwhile, President Trump's statement over the weekend that the airspace above and around Venezuela "should be considered closed" has increased uncertainty in the oil market, as Venezuela is one of the key oil producers.

OPEC+ decided on Sunday to keep output levels unchanged for the first quarter of 2026 as the group slowed efforts to regain market share due to concerns about oversupply.

Quang Trung

Source: https://baoninhbinh.org.vn/gia-xang-dau-hom-nay-312-gia-dao-chieu-giam-do-lo-ngai-du-cung-ke-hoach-hoa-bin-251203054329426.html