Brent crude oil futures climbed above $66 per barrel on Monday as markets shifted their attention to Washington, where US President Donald Trump is meeting with Ukrainian President Volodymyr Zelenskiy to push forward a peace agreement with Russia. The high-stakes talks will also bring in European Commission President Ursula von der Leyen, French President Emmanuel Macron, and NATO Secretary General Mark Rutte, underscoring the international weight behind the negotiations.
Trump signaled that he intends to press Zelenskiy to accept a swift settlement following his Friday meeting with Russian President Vladimir Putin, where discussions focused on Moscow’s demands that Ukraine cede territories. The US president also hinted at a softer approach toward sanctions, showing little urgency in penalizing Russia or countries importing its oil—a notable shift from his firmer stance during the recent Alaska summit with Putin.
Despite Monday’s rebound, oil prices remain under pressure, having fallen more than 10% so far this month. Analysts point to concerns over the broader economic impact of Trump’s tariffs and the rise in OPEC+ supply as key drivers of the decline. Markets are now closely watching whether the Washington talks yield a breakthrough that could ease geopolitical tensions or further complicate global energy dynamics.
