Oil prices fell by 3% after Russia's decision to withdraw troops from the border with Ukraine

Russia's announcement of the withdrawal of some troops from the border with Ukraine led to a sharp drop in oil prices, followed by soybeans and corn.

After hitting an 8-year high of понеділок 96.5/barrel on Monday, April Brent crude futures on London ICE Futures fell 3.2% to лондон 93.5/barrel yesterday, and March WTI crude futures on the New York electronic Mercantile Exchange (NYMEX) fell 3.5% to 9 92.27/barrel.

During the year, oil prices rose almost 1.5 times, as demand for it recovered faster than production, which was artificially restrained by OPEC+countries. Conflicts in Libya, Syria and disputes with Russia also contributed to the growth of quotations.

A new factor of pressure on the oil market was yesterday's Citigroup report, according to which in the near future world powers will sign an agreement with Iran, after which it will resume oil exports by 500 thousand barrels/day from April – May.

According to Rystad Energy forecasts, if oil prices rise to.100/barrel, shale oil production in the United States will increase by 2.2 million barrels/day until 2023.

After lower oil prices, March corn futures in Chicago fell 2.8% to 2 251.1/ton, almost losing the previous week's growth by 3.2%.

March Black Sea corn futures in Chicago also fell 1.5% to.284 / ton, down from the previous week's level, but so far 2.5% higher than last month's level.

March soybean futures on the Chicago Stock Exchange yesterday fell 1.3% to 5 573.2/ton, losing 2.2% of the price since Monday.

Reducing political tensions will stabilize markets that will rely on global supply and demand balances, rather than speculative factors of supply constraints or military aggression. However, Russia continues to restrict gas and grain supplies to world markets, provoke conflicts in various regions, and threaten the entire world in order to raise prices for its export positions and budget revenues.