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

WTI crude futures remained below $63 per barrel on Monday, continuing a downward trend from the previous session. The market's attention was drawn to Washington, where US President Donald Trump and Ukrainian President Volodymyr Zelenskiy were meeting to pursue a peace agreement with Russia. Key figures such as European Commission President Ursula von der Leyen, French President Emmanuel Macron, and NATO Secretary General Mark Rutte were also part of the discussions. Trump indicated his intention to urge Zelenskiy for a swift resolution after his recent talks with Russian President Vladimir Putin, which focused on Russia's demand for Ukraine to relinquish certain territories. Additionally, Trump showed reduced urgency in enforcing sanctions on Russia and nations purchasing Russian oil, a shift from his initially firm stance during their Alaska summit. The decline in oil prices, which has exceeded 10% this month, has been exacerbated by concerns over the economic impact of Trump's tariffs and the increase in OPEC+ oil supply.