Crude Oil Market Update

December 4th: Investor expectations of a Federal Reserve rate cut supported market sentiment, while the stalemate in the Russia-Ukraine peace talks reduced expectations of a European country resuming oil flows, leading to a continued rise in international oil prices. As of the close of trading on December 4th, January 2026 WTI crude oil futures rose $0.72 to $59.67 per barrel, an increase of 1.22%; February 2026 Brent crude oil futures rose $0.59 to $63.26 per barrel, an increase of 0.94%. China’s crude oil futures SC main contract 2601 closed up 2 yuan per barrel at 451.3 yuan per barrel.