Oil prices rose in European trading on Monday after sharp declines in the previous session, as U.S.-led talks to end the war in Ukraine failed to deliver a breakthrough, although gains were capped by persistent supply surplus worries heading into 2026.
Brent Oil Futures expiring in February rose 1.8% to $61.34 per barrel, while West Texas Intermediate (WTI) crude futures also climbed 2% to $57.88 per barrel.
Both contracts fell more than 2.5% on Friday, erasing most of the gains accumulated earlier in the week.
Get premium crude market insight with InvestingPro - 55% off today
Oil prices rebound on stalled Ukraine peace talks
Market sentiment had been rattled on Friday after renewed talk of diplomacy raised hopes of an eventual end to the nearly three-year war.
U.S. President Donald Trump said on Sunday that he and Ukrainian President Volodymyr Zelenskiy were "getting a lot closer, maybe very close" to reaching an agreement to end the conflict.
However, both leaders acknowledged that several of the most contentious issues remained unresolved.
Trump's comments followed a series of U.S.-led diplomatic engagements aimed at brokering a ceasefire. The lack of concrete progress helped oil prices stabilise on Monday, as traders judged that a swift resolution -- and any rapid return of sanctioned Russian supply -- remained uncertain.
Any credible peace deal could eventually weigh on oil prices by reducing the geopolitical risk premium that has supported the market since Russia's invasion of Ukraine.
Oil supported by Venezuela supply risks.
That support has been offset by growing worries over a potential supply glut. Major forecasting agencies and analysts have warned that global oil supply could exceed demand in 2026, driven by rising output from non-OPEC producers and slowing consumption growth.
Oil prices have also found recent support from tensions between the United States and Venezuela. Washington has stepped up pressure on Venezuelan crude exports, including measures targeting shipments and buyers, tightening supply from the OPEC member.
Source: Investing.com
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one ...
Oil prices rose on Wednesday (February 11th), supported by a combination of geopolitical risk premiums from US-Iran tensions and more solid Asian demand signals particularly from India which helped ea...
Oil remained in the green zone on Tuesday (February 10th), as the market refused to abandon the Middle East risk premium. As of 13:07 GMT (20:07 WIB), Brent rose +0.4% to $69.32/barrel, while WTI rose...
Oil prices fell about 1% on Monday as concerns about conflict in the Middle East eased slightly. The market calmed after the US and Iran agreed to resume talks on Tehran's nuclear program, reducing fe...
Oil prices moved slightly higher in a volatile session on Friday, as investors assessed the direction of nuclear negotiations between the United States and Iran. Price movements appeared sensitive to ...
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...