ECB refuses to provide backstop for €140bn Ukraine loan

Oil prices have declined as traders closely monitor ongoing peace talks between Russia and Ukraine, raising concerns about the stability of oil supplies from Venezuela. The January WTI contract has seen a notable drop, reflecting market anxieties over geopolitical tensions and their potential impact on oil production.

European natural gas prices have dropped to an 18-month intraday low, influenced by unseasonably warm weather and ongoing peace talks between Ukraine and Russia. This decline reflects market reactions to the evolving geopolitical landscape and energy supply dynamics.

India has been importing discounted Russian oil, which has raised concerns as these purchases indirectly support Moscow's military actions in Ukraine, leading to increased scrutiny from Western nations, particularly the U.S. and Europe.

Euro zone inflation has increased to 2.2% in November, indicating a slight rise in price pressures within the region. This uptick suggests that inflation is stabilizing, which may influence the European Central Bank's (ECB) monetary policy decisions in the near future.

Eurozone inflation unexpectedly rose to 2.2% in November, surpassing previous estimates and indicating persistent price pressures in the region. This increase comes as the European Central Bank (ECB) prepares for its upcoming meeting, where it is widely anticipated to maintain current interest rates due to the inflationary environment.

A fourth Russia-connected tanker was attacked in the Black Sea on Tuesday, marking a significant increase in assaults on vessels associated with Moscow as the conflict in Ukraine approaches its fifth year. This escalation reflects ongoing tensions in the region and the strategic importance of maritime routes for both Russia and Ukraine.

Volvo and Polestar executives are urging the European Union to maintain its 2035 ban on new petrol and diesel cars, countering Germany's push to soften the deadline amid concerns for its automotive industry. They argue that delaying the ban would hinder electric vehicle adoption and benefit Chinese manufacturers.

Steve Witkoff and Jared Kushner are scheduled to meet with President Vladimir Putin in Moscow to discuss potential strategies for ending the ongoing conflict in Ukraine. This meeting highlights the continued diplomatic efforts aimed at resolving a war that has significant geopolitical implications.