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."
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.