
Brent and WTI futures bounce back early Monday following Donald Trump's announced energy ceasefire and supply updates.
Oil prices rebounded early Monday, with Brent and WTI crude rising despite potential supply boosts from a U.S.-brokered Russia-Ukraine energy ceasefire and planned Russian diesel exports.
AI-generated summary
Donald Trump declared an energy ceasefire between Russia and Ukraine and announced a diesel supply deal.
Oil prices reversed initial losses early Monday, despite the potential for improved supplies after U.S. President Donald Trump declared an "energy ceasefire" between Russia and Ukraine.
Futures for international benchmark Brent crude for December delivery rose 0.69% to $105.44 a barrel. U.S. West Texas Intermediate futures for November ticked 0.54% higher to $92.35 per barrel. Prices on both benchmarks had fallen by around 1.5% earlier in the session.
"Effective immediately, there is an ENERGY CEASEFIRE in the War between Russia and Ukraine. Both parties have agreed. Do not break it!" Trump said in a social media statement Sunday stateside.
Oil reversed its losses after Ukrainian President Volodymyr Zelenskyy welcomed such a ceasefire, but warned Monday that Moscow must do the same.
Prospects of more Russian energy hitting markets after a deal with the U.S. have also risen after Trump said Friday that Moscow will supply more than 4 million tons of diesel to the global market under a deal he struck with Putin during a phone call.
Oil prices are expected to remain volatile in the near term as the U.S.-Iran conflict continues, while the impact of Hurricane Isaias on U.S. energy producers could also hurt supplies .
"The pressure on oil prices could remain on the upside as Hurricane Isaias strengthened to Category 3 with 120mph winds as it approached the US Gulf Coast, forcing energy producers to curtail offshore output," UOB said in a note on Monday.
"Separately, Houthi missile strikes on Saudi Arabia's Riyadh airport on Sat which killed 12 people and injured over 300, have materially elevated Middle East risk premia," UOB added.
AI outlook — possibilities, not facts
Oil prices will remain volatile in the near term.
Likely · Within days

Minister of Energy and Natural Resources Bayraktar stated that they aim to fully utilize the 1.5 million barrel capacity of the Iraq-Türkiye oil pipeline. He also evaluated the LNG infrastructure and gas supply to Europe via TANAP and the developments in global energy markets.

Faib Confesercenti and Fegica propose to the government a maximum price cap on petrol and diesel, which can be activated by decree in extraordinary situations. The mechanism, based on a public formula, aims to counteract recent increases in fuel prices.

Vice Speaker of the Slovak Parliament Tibor Gaspar said that a complete refusal to purchase Russian gas harms the interests of the EU and Slovakia. Bratislava intends to defend its energy security through court and negotiations with the European Commission.

Energy inflation in Italy rises to 4.2% in September, driven by electricity and gas. Despite the transition to the free market, families struggle to save, while investments in home efficiency decline after the end of the large incentives.

Brent crude oil futures for December 2026 delivery on London's ICE rose above $106 per barrel, reaching $106.02 before narrowing gains to $105.88, while WTI crude also increased.

Global diesel prices persist at near-record highs as Persian Gulf producers face infrastructure limitations in exporting refined fuels, despite increased crude shipments and international efforts to release strategic reserves.