Early Tuesday morning in Asia, the Washington Post (WaPo) quotes an anonymous US Official saying, “The Russian government has delivered a written response to a U.S. proposal aimed at de-escalating the Ukraine crisis.”

“It would be unproductive to negotiate in public, so we’ll leave it up to Russia if they want to discuss their response,” adds the US diplomat.

The news also stated, “The official declined to provide details about the proposal, delivered ahead of an upcoming phone call between Secretary of State Antony Blinken and Russian Foreign Minister Sergei Lavrov on Tuesday.”

“We remain fully committed to dialogue to address these issues and will continue to consult closely with our allies and partners, including Ukraine,” adds the US official per WaPo.

It’s worth noting that UK PM Boris Johnson is also scheduled to visit Ukraine on Tuesday.

Market reaction

The news eases the pressure from the oil traders and hence WTI crude oil prices begin Tuesday’s Asian session on a back foot, down 0.20% around $87.40 at the latest.