Oil Falls After Trump Announces Russia-Ukraine Energy Pause

Oil prices fell on Monday after President Donald Trump said Russia and Ukraine had agreed to stop attacking each other’s energy facilities, prompting expectations that Russian fuel supplies could increase. The announcement was not accompanied by published terms, and Russia had not commented by Monday. Ukrainian President Volodymyr Zelensky said Ukraine supported a pause if Russia did as well and that he was awaiting details. Brent crude and U.S. West Texas Intermediate both declined during the session. Prices varied across reports because they reflected different observation times and contract descriptions: Brent was reported from about $103 to $105 a barrel, while WTI was around $90 to $91. One report said both benchmarks had fallen more than 1% earlier in the session. The declines followed Trump’s announcement and reflected market hopes for improved supply, rather than confirmation that the proposed pause was in effect. Trump also said Russia would supply more than 300,000 tonnes of diesel immediately, followed by 500,000 tonnes in November and another 1 million tonnes thereafter. The reported commitments were part of a U.S.-Russia fuel arrangement described by Trump.