US oil price drops below $100 mark on positive Russia-Ukraine talks

US oil price dropped below the $100 mark on signs of progress in talks between Russia and Ukraine to end their conflict. US West Texas Intermediate (WTI) fell $6.41 to $99.55/barrel while Brent crude fell $6.51 to $105.97/barrel. Oil prices were further pressured by lockdowns in China's biggest city Shanghai to curb the spread of coronavirus.