- December 29, 2025
- Posted by: EWGFX
- Category: news
The reason prices are rising also includes that geopolitical tensions remain elevated
Oil prices rose on Monday as investors weighed the outcome of talks between the US and Ukrainian presidents on a potential deal to end the war in Ukraine, as well as Middle East tensions that could disrupt supply.
Brent crude futures LCOc1 rose 63 cents, or 1.04 per cent, to $61.27 per barrel at 0443 GMT, while US West Texas Intermediate crude CLc1 was up 58 cents, or 1.02 per cent, to $57.32.
Both benchmark prices fell more than 2 per cent on Friday as investors weighed a looming global supply glut and the possibility of a Ukraine peace deal ahead of weekend talks between Ukrainian President Volodymyr Zelenskiy and US President Donald Trump.
US President Donald Trump said on Sunday that he and Ukrainian President Volodymyr Zelenskiy were “getting a lot closer, maybe very close” to an agreement to end the war in Ukraine, while acknowledging that the fate of the disputed Donbas region remains a key unresolved issue.
The two leaders spoke at a joint press conference late Sunday afternoon after meeting at Trump’s Mar-a-Lago resort in Florida. Trump said it will be clear “in a few weeks” whether negotiations to end the war will succeed.
The peace talks did not reach an agreement on territorial issues, so a Russia–Ukraine peace deal may remain deadlocked with no quick breakthrough, said Mingyu Gao, energy and chemical chief researcher at China Futures Co. Ltd.