Brent crude futures hovered below $66 per barrel on Monday, extending losses from the prior session as markets focused on the meeting in Washington between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy aimed at advancing a peace deal with Russia.
The talks will also include European Commission President Ursula von der Leyen, French President Emmanuel Macron, and NATO Secretary General Mark Rutte. Trump said he would press Zelenskiy to agree to a quick settlement following his Friday discussions with Russian President Vladimir Putin, which centered on Moscow's demand for Ukraine to cede territories.
He also signaled little urgency in imposing penalties on Russia and countries purchasing its oil, softening his earlier stance during their summit in Alaska. Oil prices have fallen more than 10% so far this month, pressured as well by concerns over the economic fallout from Trump's tariffs and rising OPEC+ supply.
Source: Trading Economics
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