Russia-Ukraine peace deal could see Brent fall by $5-$10 a barrel

News Snapshot:

A peace deal between Russia and Ukraine could lead to higher oil output and lower Brent prices, offering some relief to consumers, according to Bank of America (BAC) analysts. “We believe Brent crude oil (BZ=F) prices could drop between $5 and $10 a barrel if Russian barrels suddenly do not need to make a long journey to India or China, and more supply is suddenly made available,” they say in a note to clients. Global refining margins could also decline, as Russian products like diesel would no longer have to travel long distances. Still, price risks remain as the U.S....