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Oil Price Today (November 12): Brent crude falls below $92 amid hopes for US-Iran, Russia-Ukraine peace talks
Crude oil price: Brent crude futures fell more than $1 to trade below $92 per barrel, while US West Texas Intermediate (WTI) crude futures also lost over $1 to trade below $86 per barrel on Thursday morning. This comes after Brent crude rose over 1% on Wednesday after hitting two-month lows in the previous day.
Oil prices drop more than $1 as hopes for Iran, Ukraine peace talks pressure markets
Oil prices dropped more than $1 on Thursday as hopes for progress in peace talks over the Middle East and the Russia-Ukraine wars pressured the market. Brent
Trump envoys to meet Putin as US pushes Ukraine peace deal, new Europe-Russia security framework, reports Axios
US Special Envoy Jared Kushner and Steve Witkoff are set to meet Russian President Vladimir Putin in Moscow on Thursday as Washington seeks to negotiate an agreement to end the Russia-Ukraine war alongside a broader security arrangement between Russia and Europe, Axios reported, citing people familiar with the discussions.
Strait of Hormuz will "never return" to pre-war status: Ghalibaf says "ball in US court" on peace talks
Iran's Parliament Speaker Mohammad Bagher Ghalibaf discussed the future management of the Strait of Hormuz with Oman. He emphasized that the waterway's regulations would change following the US-Israel war on Iran. Negotiations with the United States are contingent upon adhering to Iran's seven conditions.
Tata Electronics in talks to raise $2 billion for expansion
The first tranche is likely to be up to $800 million, with initial pricing discussions around SOFR plus 180 basis points. The talks are at an early stage, with the final size, pricing and lender participation yet to be firmed up. The loan could be priced at around 6%, assuming SOFR remains at around 3.9%.
India, Canada begin sixth round of trade talks
India and Canada have initiated their sixth round of negotiations for a Comprehensive Economic Partnership Agreement. Commerce and industry minister Piyush Goyal engaged with Canada's international trade minister Maninder Sidhu before the talks. Both ministers emphasized the necessity of a balanced agreement to enhance market access. The discussions aim to leverage the strengths of both economies for mutual benefit.
Russia, Ukraine agree to large prisoner exchange as talks conclude with no major breakthrough
Russia and Ukraine have agreed to a significant exchange of prisoners of war following US mediated discussions. The latest talks were the first between the two countries in nine months. US officials are striving to revive peace efforts that have achieved limited success so far. Negotiators face multiple hurdles, including territorial disputes and security guarantees. Continued fighting has resulted in civilian and military casualties in Ukraine amid the ongoing conflict.
US envoys Witkoff and Kushner may visit Russia in coming days, TASS reports
US diplomats Steve Witkoff and Jared Kushner are potentially planning a visit to Russia soon. A Russian news agency reported this possibility but did not specify the exact timing or purpose. Their potential trip follows recent two-day discussions in Abu Dhabi involving representatives from Russia, Ukraine, and the United States. These talks were significant as they were the first trilateral meeting since February.
Trilateral talks in Abu Dhabi addressed humanitarian issues, Zelenskiy says
Ukrainian President Volodymyr Zelenskiy said trilateral talks with Russia in Abu Dhabi covered humanitarian issues, including prisoner exchanges and the return of Ukrainian children, alongside discussions on security guarantees. He shared details of the discussions while interacting with students during his visit to Denmark.
Lavrov says Russia cannot agree to immediate Ukraine ceasefire without knowing what will happen next
Russian Foreign Minister Sergei Lavrov stated that Russia would not agree to an immediate ceasefire in Ukraine. He emphasised the importance of discussing future security architecture in Europe first. The trilateral talks involving Russia, Ukraine, and the US are taking place in Abu Dhabi. Lavrov's comments highlight Russia's focus on long-term security considerations. The discussions reflect ongoing tensions and negotiations related to the Ukraine conflict.
Trump envoys bring Russia and Ukraine together for first peace talks in 9 months
Russian and Ukrainian officials recently convened in Abu Dhabi for the first US-brokered talks since February. US envoy Jared Kushner indicated that both sides have narrowed their differences but remain far apart on terms. Ukrainian officials emphasized the need for security guarantees and lasting peace to end the conflict. Russian Foreign Minister Sergei Lavrov expressed a preference for broader European security talks first.
US-mediated talks on ending Russia-Ukraine war begin in Abu Dhabi
Three-way talks involving Russia, Ukraine, and the United States began in Abu Dhabi to address security guarantees. The discussions are the first of their kind since February and will last two days. Key negotiators from both sides have returned, seeking to bridge substantial gaps in their demands. Despite previous rounds yielding no breakthroughs, hopes persist for progress towards a resolution.
NMDC in talks with Russia's Rosatom over lithium investments, sources say
Indian state-run miner NMDC Ltd is in talks with Russia's Rosatom to invest in lithium projects. These discussions are part of India's strategy to secure supplies for battery and EV industries. NMDC aims to enhance its global mineral diversification strategy and has formed a team for due diligence. The Indian government is investing in domestic processing of critical minerals to reduce import dependence.
Zelenskyy dials Modi ahead of Abu Dhabi peace talks
Ukrainian President Volodymyr Zelenskyy spoke to Prime Minister Narendra Modi regarding the ongoing Ukraine conflict. Modi expressed India's willingness to assist in achieving a peaceful resolution and emphasized dialogue and diplomacy. India's past peace proposal included suggestions for a ceasefire and protection of Indian seafarers in the Black Sea. Peace talks involving Russia, Ukraine, and the US are set to occur in Abu Dhabi.
A day before US-brokered talks, Russia and Ukraine batter each other with long-range strikes
Russia has targeted multiple electrical substations in Ukraine amid ongoing military actions. Ukrainian forces have hit a major oil refinery in Russia, crippling its supply capabilities. Diplomatic talks between Russia and Ukraine are scheduled with U.S. mediation amid the ongoing conflict. European Union emergency funding for Ukrainian power grid repairs has been activated to aid recovery efforts.
Donald Trump offers Democrats immigration, tax talks
Donald Trump has expressed readiness to work with Democratic lawmakers on issues like immigration and taxes. He acknowledged that both parties can find common ground through economic development initiatives. Trump's comments followed the disappointing election results for the Republican Party, which he attributed to inaction in Congress. As he prepares for the next Congress, he encourages urgent legislative action. The upcoming sessions will focus on pending bills and presidential nominations.
'Both sides working towards a deal': Qatar says PM remarks on US-Iran talks "distorted" online
Qatar said that PM Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani's remarks were "distorted" online, as several "fake accounts" claimed that the United States and Iran had failed to reach an agreement.
Iran reviewing proposals on Tehran's nuclear programme, officials say
Iran is reviewing proposals made by Qatar that aim to address its nuclear program and tensions with the US. As part of these discussions, Iran is demanding certain core conditions be met by the US. The White House acknowledged ongoing discussions but did not comment on the proposed measures. Regional leaders have engaged in diplomatic talks to ease tensions, with emphasis on political solutions.
US to hold trilateral talks with Ukraine, Russia in Abu Dhabi next week
Delegations from Ukraine and Russia will meet in Abu Dhabi on November 10-11 for peace talks. The discussions seek to address ending the conflict, post-war security agreements, and humanitarian measures. American negotiators, including Steve Witkoff and Jared Kushner, will represent the U.S. Recent U.S.-mediated talks have aimed at finding a breakthrough before winter arrives. Both sides reportedly remain far apart in negotiating a potential peace deal.
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