DTN Oil Update
Oil futures edged up on Monday following the meeting between U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskiy, along with the main leaders of the European Union, to discuss a Russia-Ukraine ceasefire.
DTN Oil Update
HOUSTON (DTN) — Oil futures edged up on Monday following the meeting between U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskiy, along with the main leaders of the European Union, to discuss a Russia-Ukraine ceasefire.
This meeting concluded on a positive tone, with President Zelenskyy reiterating on Monday his willingness to have a trilateral meeting with Putin and Trump. The talks held last Friday between President Trump and Russian President Vladimir Putin in Alaska failed to reach a deal to end the Russia-Ukraine war.
Concerns around Russian oil supplies — should Russia not agree to a ceasefire deal — faded after Trump signaled on Friday no urgency to ramp up sanctions enforcement or implement additional punitive tariffs on major buyers of Russian oil like China.
The NYMEX-WTI futures contract for September delivery rose by $0.53 to $63.33 bbl, and the front-month ICE Brent futures contract inched up by $0.68 to $65.53 bbl.
Downstream, September RBOB gasoline futures advanced by $0.0190 to $2.0967 gal, while the front-month ULSD contract rose by $0.0190 to $2.2440 gal.
The U.S. Dollar Index strengthened by 0.258 points to 97.970.