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Trump says Russia and Ukraine reached 'energy ceasefire'
- Global oil prices tumbled Monday as markets reacted to President Donald Trump's reported energy ceasefire announcement between Russia and Ukraine, with both major crude benchmarks declining more than 1 percent.
- Ukrainian President Volodymyr Zelensky expressed surprise at the announcement but confirmed his government supports the move, stating it is 'important that Russia support it as well.' Russia has yet to formally confirm the agreement.
- Analysts note the market is increasingly reluctant to pay geopolitical premiums on every headline, yet the physical market remains tight enough to keep Brent above $100 despite the ceasefire announcement.
- Most Asian stock markets rose Monday, with Hong Kong, Sydney, Singapore, Wellington and Manila all posting gains as oil prices eased; Seoul and Taipei declined due to chipmaker losses.
- Investors are preparing for upcoming earnings season and Federal Reserve interest-rate decisions due at month's end, which could influence energy volatility regardless of the ceasefire's long-term durability.
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Donald Trump announced on Sunday a "ceasefire" between Ukraine and Russia, causing Kiev's surprise and Moscow's silence. Despite the support of London, Paris and Ottawa for this call, the...
'Energy truce' benefits Russia rather than Ukraine, pressure must continue – Kallas
High Representative of the European Union for Foreign Affairs and Security Policy Kaja Kallas stated that the so-called "energy truce" would work in Russia's favor because, unlike Ukraine, which has only one oil refinery, Russia possesses an extensive network.
The US would also have agreed with Russia to release thousands of barrels of diesel to lower market prices
·Madrid, Spain
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Most Asian stock markets rose in the morning, while oil prices fell. Investors await the results of US banks and corporations.
·Ljubljana, Slovenia
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Total News Sources832
Leaning Left98Leaning Right112Center149Last UpdatedBias Distribution42% Center
Bias Distribution
- 42% of the sources are Center
42% Center
L 27%
C 42%
R 31%
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