Oil prices tumble as stocks rise after Trump touts 'energy ceasefire'
Crude oil prices fell by more than 1% and global stock markets rose early Monday after Donald Trump announced an "energy ceasefire" between Russia and Ukraine. Trump stated on Truth Social that both parties agreed to the deal effective immediately. However, the announcement contradicts reports that Russia continued attacking Ukrainian power plants on Monday. These market movements occurred despite a separate wave of Houthi attacks on Saudi Arabian airport terminals, which had previously raised concerns about tight global energy supplies heading into the northern hemisphere winter.
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- ✓ Donald Trump announced an "energy ceasefire" between Russia and Ukraine on Truth Social early Sunday.
- ✓ Both main crude oil contracts sank more than 1% following the announcement.
- ✓ Most stock markets rose early Monday after the ceasefire claim.
- ✓ Russia attacked multiple power plants in Ukraine on Monday despite the ceasefire claim.
What changed
Donald Trump unilaterally announced an energy ceasefire between Russia and Ukraine via Truth Social.
Live updates
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Oil prices drop as stocks rise following Trump energy ceasefire claim
Crude oil prices fell by more than 1% and global stock markets rose early Monday after Donald Trump announced an "energy ceasefire" between Russia and Ukraine. Trump stated on Truth Social that both parties agreed to the deal effective immediately. However, the announcement contradicts reports that Russia continued attacking Ukrainian power plants on Monday. These market movements occurred despite a separate wave of Houthi attacks on Saudi Arabian airport terminals, which had previously raised concerns about tight global energy supplies heading into the northern hemisphere winter.
Why it matters
Energy infrastructure has been a primary target in the Russia-Ukraine conflict, with Ukraine threatening to halt refinery strikes only if Russia stops energy attacks. Market volatility is currently driven by the tension between geopolitical ceasefire claims and active military strikes on power grids.
What is confirmed
- Donald Trump announced an "energy ceasefire" between Russia and Ukraine on Truth Social early Sunday.
- Both main crude oil contracts sank more than 1% following the announcement.
- Most stock markets rose early Monday after the ceasefire claim.
- Russia attacked multiple power plants in Ukraine on Monday despite the ceasefire claim.
- Iran-backed Houthi rebels launched attacks on a passenger terminal at the international airport in Riyadh.
Still unconfirmed
- Ukraine will halt strikes on refineries if Russia stops energy attacks.
- Backlash is growing against a Russia diesel deal.
What to watch next
- Official confirmation or denial of the ceasefire from the Ukrainian and Russian governments
- Further evidence of energy infrastructure strikes in Ukraine
- Impact of Houthi attacks on Saudi oil export capacity
confidence 90%Sources used for this update (25)
- www.cnbc.com — Crude Oil Prices Today and Oil Market News - CNBC
- worldoilmonitor.com — World Oil Monitor — Live Oil Prices, Futures & Energy Data
- oilprice.com — Crude Oil Prices Today | OilPrice.com
- www.liveoilprices.com — Live Oil Prices — Real-Time Crude Oil & Energy Market Data
- Reuters — Ukraine will halt strikes on refineries if Russia stops energy attacks, Zelenskiy says
- www.france24.com — France 24 - International breaking news, top stories and...
- The Hill — Backlash grows against Russia diesel deal as Trump claims Ukraine energy ceasefire
- ABC News - Breaking News, Latest News and Videos — Russia strikes power plant in Ukraine after Trump announces energy ceasefire
- The Guardian — Ukraine war briefing: Russia attacks multiple power plants after Trump energy ceasefire claim
- Euronews.com — Oil prices tumble as stocks rise after Trump touts 'energy ceasefire'
- CNBC — CNBC Daily Open: Trump's Russian roulette
- NPR — Trump says Russia and Ukraine agree to an 'energy ceasefire'
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