International crude oil prices settled more than 1% lower on November 25, after Ukraine hinted that intensified US diplomatic efforts to end the war may be bearing fruit.

Rustem Umerov, secretary of Ukraine's National Security and Defense Council, stated that President Volodymyr Zelenskyy could visit the US in the coming days to seal a war-ending deal with US President Donald Trump.

West Texas Intermediate (WTI) crude for January delivery decreased by US$0.89 (1.5%), reaching US$57.95 per barrel on the New York Mercantile Exchange. Brent crude for January delivery fell by US$0.89 (1.4%) to US$62.48 per barrel.