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30/12/2025 03:55 AST
Oil prices rose on Monday as investors weighed the outcome of talks between the US and Ukrainian presidents on a potential ?deal to end the war in Ukraine, as well as Middle East tensions that could disrupt supply.
Brent crude futures rose 67 cents, or 1.1%, to $61.31 per barrel at 0751 GMT, while US West Texas Intermediate crude was up 65 cents, or 1.15%, to $57.39.
Both benchmark prices fell more than 2% on Friday as investors weighed a looming global supply glut and ?the possibility of a ?Ukraine peace deal ahead of weekend ?talks between ?Ukrainian ?President ?Volodymyr Zelenskiy and US President Donald Trump.
Trump said on Sunday that he and Zelenskiy were "getting a lot closer, maybe very close" to an agreement to end the war in Ukraine, while acknowledging that the fate of the disputed Donbas region remains a key unresolved issue.
The two leaders spoke at a ?joint press conference late Sunday afternoon after meeting at Trump's Mar-a-Lago resort in Florida. ?Trump said it will be clear "in ?a few weeks" whether negotiations to ?end the war will succeed.
The peace talks did not ?reach an agreement on territorial issues, so a Russia-Ukraine peace deal may remain deadlocked with no quick breakthrough, said Mingyu Gao, energy and chemical chief researcher at China Futures.
The reason prices are rising also includes ?that geopolitical tensions remain elevated, as Russia and Ukraine continued striking each other's energy infrastructure over the weekend, said Yang ?An, a China-based analyst at Haitong Futures.
"The Middle East has also been unsettled recently, in Yemen and Iran saying the country is in a 'full-scale war' with the US, Europe, and Israel. This may be what's driving market concerns about potential supply disruptions," Yang added.
WTI is expected to trade within a $55-$60 range with an eye also on US enforcement actions against Venezuelan oil shipments and any fallout from the US military strike against ISIS targets in Nigeria, which produces about 1.5 million barrels ?per day, IG analyst Tony Sycamore said in a note.
Asharq Al Awsat
| Ticker | Price | Volume |
|---|
| (In US Dollar) | Change | Change(%) | |
|---|---|---|---|
| Brent | 60.8 | -1.48 | -2.38 |
| WTI | 56.91 | -1.47 | -2.52 |
| OPEC Basket | 62 | -0.14 | -0.23 |
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QNA
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Brent cru
Asharq Al Awsat
10/12/2025
Oil prices edged down on Tuesday, extending losses from the 2% drop in the previous session, with markets keeping a close eye on peace talks to end Russia's war in Ukraine and a looming decision on U
Asharq Al Awsat
03/12/2025
OPEC+ members will undergo an annual assessment of their oil production capacity starting next year for use in 2027, OPEC+ sources said, to ensure that the group sets output quotas that are more clos
Reuters
Financial Information Co.
Saudi Arabia