West Texas Intermediate oil fell below $55 a barrel for the first time since February 2021 on signs that supply is outpacing demand, while progress in Ukraine peace talks could lead to a deal that may allow more Russian oil to flow onto global markets. US crude futures pared some losses, settling down 2.7% to $55.27. Brent, the global benchmark, fell 2.7% to settle at $58.92. Most Read from Bloomberg Signs of weakness are proliferating across the supply side of the oil market, with Middle Eastern crude ...