Oil prices fell on Wednesday after Russia agreed to U.S. President Donald Trump's proposal that Moscow and Kyiv temporarily stop attacking each other's energy infrastructure, a move that could eventually pave the way for Russian oil to enter global markets.

Oil futures were off slightly Wednesday, seeing some modest pressure a day after Russian President Vladimir Putin rejected a full cease-fire in the country’s invasion of Ukraine but agreed to a mutual halt on energy infrastructure for 30 days.

Tuesday closed down -0.68 (-1.01%), and April RBOB gasoline (RBJ25) closed down -0.0128 (-0.59%). Crude oil and gasoline prices Tuesday retreated from 2-week highs and settled moderately lower. Crude prices gave up early gains Tuesday and turned lower after Russian President Putin committed to limit Russian attacks on Ukrainian energy infrastructure for 30 days.