Oil futures fell Thursday morning, on track for back-to-back losses a day after President Trump said he and President Vladimir Putin of Russia had agreed to begin talks toward ending the war in Ukraine.

Oil prices declined on Thursday amid growing optimism about a potential peace deal for Ukraine, which could lead to increased Russian oil supply and lower prices.

Oil prices fell more than 1% on Thursday as a potential peace deal between Russia and Ukraine continued to exert downward pressure, along with rising crude inventories in the United States. Brent futures were down $1.

Oil prices could tumble if U.S. President Donald Trump is able to make good on his campaign promise to end the war in Ukraine. Trump said Wednesday that he and Russian President Vladimir Putin had agreed on a “lengthy and highly productive phone call” to open immediate talks to end the conflict,

WTI crude oil (CLH25) today is down -0.31 (-0.43%), and March RBOB gasoline (RBH25) is up +0.0024 (+0.11%). Crude oil and gasoline prices today are mixed, with crude falling to a 6-week low. Crude prices are under pressure today as geopolitical risks eased after President Trump and Russian President Putin agreed to talks on ending the war in