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Oil prices held at two-month lows on Wednesday as a potential peace deal between Russia and Ukraine continued to weigh on prices while lower U.S. crude stockpiles provided some support. Brent crude was down 19 cents at $72.83 a barrel by 1256 GMT and U.S. West Texas Intermediate crude oil futures fell by 13 cents to $68.80. Prospects for a peace deal between Russia and Ukraine are improving, ING commodities strategists said in a note on Wednesday, adding that the market was also watching for potential implications of a minerals deal between the U.S. and Ukraine.

NEW YORK (Reuters) -The U.S. dollar rose on Wednesday to move further from recent 11-week lows, as investors assess the strength of the economy and tariffs outlook after the most recent comments from U.S. President Donald Trump. The greenback stumbled on Tuesday as economic data showed a sharp drop in consumer confidence, the latest in a string of data points that have prompted concerns about the strength of the U.S. economy and persistent inflation, and caused U.S. Treasury yields to tumble. The benchmark 10-year U.S. Treasury yield plunged nearly 10 basis points (bps) on Tuesday and was last down 4.2 basis points to 4.256% after falling to 4.249%, its lowest since December 11 as an earlier attempt to stabilize dissipated.

(Bloomberg) -- A gauge of Australian headline inflation surprisingly held steady in January, suggesting price pressures in the economy are contained and reinforcing the Reserve Bank’s decision to cut interest rates last week.Most Read from BloombergNYC’s Congestion Pricing Pulls In $48.6 Million in First MonthThe Trump Administration Takes Aim at Transportation ResearchNYC to Shut Migrant Center in Former Hotel as Crisis EasesNew York’s Congestion Pricing Plan Faces Another Legal ShowdownShelter

Ukraine and the U.S. have reached an agreement on a framework for a broad economic deal that would include access to Ukraine's rare earth minerals, three senior Ukrainian officials said Tuesday. One of them said that Kyiv hopes that signing the agreement will ensure the continued flow of U.S. military support that Ukraine urgently needs. The agreement could be signed as early as Friday and plans are being drawn up for Ukrainian President Volodymyr Zelenskyy to travel to Washington to meet President Donald Trump, according to one of the Ukrainian officials.

(Bloomberg) -- Brazilian regulators are cracking down on some offshore drilling by oil giants like Petrobras and Equinor ASA, complicating exploration and production projects at a key moment in the nation’s effort to boost crude output. Most Read from BloombergNYC’s Congestion Pricing Pulls In $48.6 Million in First MonthNYC to Shut Migrant Center in Former Hotel as Crisis EasesThe Trump Administration Takes Aim at Transportation ResearchNew York’s Congestion Pricing Plan Faces Another Legal Sho

(Bloomberg) -- Oil slumped along with equity markets as US consumer confidence tumbled, adding to mounting concerns that US President Donald Trump’s policies will hamper economic growth and sap energy demand. Most Read from BloombergNYC’s Congestion Pricing Pulls In $48.6 Million in First MonthNYC to Shut Migrant Center in Former Hotel as Crisis EasesThe Trump Administration Takes Aim at Transportation ResearchNew York’s Congestion Pricing Plan Faces Another Legal ShowdownShelters Await Billions

Richmond Fed president Tom Barkin said Tuesday that he wants to keep interest rates "modestly restrictive" until he gains more confidence inflation is returning to the central bank's 2% goal, warning about lessons learned from the 1970s.