FX.co ★ Oil Slips as Traders Await Trump-Zelenskiy Talks

Brent crude futures remained just under $66 per barrel on Monday, extending the previous session's declines. This trend continued as global attention centered on high-stakes discussions in Washington between U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskiy, where the primary goal is brokering a peace agreement with Russia. The meeting also includes key figures such as European Commission President Ursula von der Leyen, French President Emmanuel Macron, and NATO Secretary General Mark Rutte. President Trump expressed his intention to encourage President Zelenskiy towards reaching a swift accord, following conversations with Russian President Vladimir Putin on Friday. These talks have focused on Russia’s demands for Ukraine to relinquish certain territories. Additionally, Trump appeared less inclined to enforce sanctions against Russia and the nations purchasing its oil, a departure from his previously hardline approach demonstrated at their summit in Alaska. Throughout this month, oil prices have declined by over 10%, influenced by apprehensions about the negative economic impacts of Trump’s tariffs and an increase in supply from OPEC+.