The oil complex settled lower Friday after a ceasefire agreement in Ukraine helped minimize the oil market’s risk premium, while concerns remain over the impact of Russian sanctions on European demand. NYMEX October crude closed $1.16/barrel lower at $93.29/b. ICE October Brent crude was down $1.01/b to $100.82/b. Refined products futures also ended the day lower. NYMEX October RBOB was down 1.65 cents to $2.5834/gal, while October ULSD was down 1.71 cents to $2.8192/gal. Phil Flynn, senior market analyst at Price Futures Group, said the market turned lower when US President Barack Obama told reporters at the NATO summit in Wales that Western sanctions against Russia would remain in place, despite the ceasefire. Article continues below… Oilgram Price Report is a daily report that covers market changes, market fundamentals and factors driving prices. Oilgram Price Report also brings a vast array of Platts international prices for crude and products, […]