Oil and wholesale gas prices slide as diplomatic efforts step up to end Ukraine war

Ukrainian president Volodymyr Zelenskyy speaks in Kyiv. The country says it has begun hard talks on a ceasefire,

Global oil prices slumped 8% and the price of European wholesale gas dropped by 13%, as diplomatic efforts increased yesterday to resolve the war between Russia and Ukraine.

Brent crude traded at just over $104 a barrel and gas for delivery in Europe this summer fell to €111.50 per megawatt per hour.