US EditionOil Prices Jump After Trump-Zelenskyy Meeting Amid Supply Concerns over West Asia Tensions
Investors balanced optimism over Ukraine peace talks with risks of supply disruptions from the Middle East, US enforcement on Venezuelan oil, and fallout from Nigeria strikes.
- The report was delayed from its usual Wednesday release because of the Christmas holiday.
- Investors weighed diplomatic progress against Middle East supply risks and US enforcement on Venezuelan shipments plus fallout from a US strike in Nigeria, which produces about 1.5 million barrels per day.
- Ukrainian President Volodymyr Zelenskiy said US and Ukrainian negotiating teams will meet next week to finalise issues after agreeing on about 90% of a 20-point peace plan.
- Oil prices edged higher on Monday as Brent traded above $60 per barrel, and investors awaited US stockpiles data for the week to December 19.
- IG analyst Axel Rudolph said geopolitical developments supported crude but warned thin liquidity could amplify volatility into the start of next year, while analysts cautioned gains may be limited by oversupply in 2026.
14 Articles
14 Articles
Oil prices jump after Trump-Zelenskyy meeting amid supply concerns over West Asia tensions
Oil prices moved higher as markets focused on Ukraine peace talks and rising tensions in the Middle East. Hopes of progress in ending the war supported prices, while concerns over supply disruptions added to the momentum, even as worries about future oversupply continued to linger
On December 29, oil prices rose as investors assessed the outcome of talks between Donald Trump and Volodymyr Zelensky on a possible agreement to end the war in Ukraine.
The meeting between Donald Trump and Wolodymyr Selenskij did not bring peace, but the US President surprised with his assessment of the situation. 95 percent of the security guarantees were agreed. A working group is now to be established.
The Ukrainian and American presidents have said that progress is under way, but no concrete announcement has been made.
Oil Jumps 2% as Investors Weigh Ukraine Talks Against Supply Outlook
Oil prices rose by more than $1 on Monday as investors weighed talks between the U.S. and Ukrainian presidents on a possible deal to end the war in Ukraine against potential oil supply disruption in the Middle East. Brent crude futures rose $1.33, or 2.2%, to $61.97 a barrel by 1416 GMT while U.S. West Texas Intermediate crude was up $1.31, or 2.3%, at $58.05. Both benchmarks fell by more than 2% on Friday. “Energy markets moved higher as geopol…
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