Oil prices fell on February 13, 2025, following reports that The U.S. and Russia are in discussions to negotiate a deal to end the war in Ukraine.. West Texas Intermediate crude futures traded at $71 a barrel, down for a second day. Meanwhile, U.S. stocks rose as investors reacted to slowing wholesale inflation and President Donald Trump’s decision to delay reciprocal tariffs.
The Producer Price Index (PPI) showed wholesale inflation rose 0.4% in January, slightly above economists’ expectations but below December’s 0.5% increase. Core PPI, excluding food and energy, rose 0.3%, signaling a deceleration in price pressures. This data pushed market expectations for a Federal Reserve rate cut to the end of the year, easing concerns about aggressive monetary tightening.
Tech giants like Nvidia, Apple, and Tesla led the stock rally, with Tesla also buoyed by reports of a potential government contract for armored electric vehicles. Bitcoin traded slightly lower at 96,000, while gold futures rose to 2,945 an ounce.
