Oil drops as Trump claims Russia-Ukraine energy truce
What's new: Brent fell below $104 and WTI neared $90 as traders weighed a ceasefire claim against fresh Houthi strikes on Saudi Arabia.
Oil prices fell Monday after President Donald Trump claimed Russia and Ukraine had agreed to stop targeting each other’s energy facilities, raising hopes for steadier fuel supplies. Brent crude dropped below $104 a barrel and U.S. West Texas Intermediate traded near $90. Trump also said Russia would supply more than 4 million tons of diesel to the global market under a deal he reached with Vladimir Putin. Volodymyr Zelenskyy said Ukraine supports a ceasefire, though he did not confirm a finalized pact. The move in crude came despite new risks in the Middle East, including another strike on Riyadh’s King Khalid International Airport and tanker attacks near the Strait of Hormuz.