Oil falls after Trump declares 'energy ceasefire' between Russia and Ukraine

Ukrainian President Volodymyr Zelenskyy said in a post on social media that "Ukraine supports the ceasefire, and it is important that Russia support it as well."

Oil falls after Trump declares 'energy ceasefire' between Russia and Ukraine

TL;DR

  • Oil prices fell on Monday due to optimism about improved supplies.
  • President Donald Trump declared an 'energy ceasefire' between Russia and Ukraine.
  • Ukraine supports the ceasefire, emphasizing Russia's need to also support it.
  • Prospects of increased Russian diesel supply to the global market have risen.
  • Iran's Foreign Minister contacted Saudi Arabia's Foreign Minister to discuss regional events.
  • Iran is reportedly ready to assist in dialogue between Saudi Arabia and Yemen's Houthis.
  • Hurricane Isaias strengthening to Category 3 could impact U.S. energy production.
  • Houthi missile strikes on Riyadh airport have elevated Middle East risk premia.