Oil prices remained stable on Monday, with Brent crude at $65.87 and WTI at $62.89, as traders awaited signals from a meeting between U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskiy. The talks could influence a potential peace deal to end the Russia-Ukraine war, which has disrupted global energy flows.
Market analysts noted that Trump’s recent alignment with Russian President Vladimir Putin on pursuing a peace deal rather than just a ceasefire could eventually ease supply constraints. However, Ole Hansen of Saxo Bank warned that oil prices haven’t yet factored in a full peace dividend, leaving room for potential declines if a deal materializes.
Earlier price fluctuations followed comments from White House trade adviser Peter Navarro, who criticized India for buying Russian oil, accusing it of indirectly funding Moscow’s war. Analysts noted that lingering U.S. India trade tensions could still disrupt energy markets, even as peace prospects improve. Meanwhile, Trump hinted at possible future tariffs on nations like China, the top buyer of Russian crude but downplayed immediate action, easing short-term supply fears.