FX.co ★ WTI Rises 1% after Trump-Zelenskiy meeting

WTI crude oil futures experienced a 1% increase, closing at $63.4 per barrel on Monday. This uptick followed discussions in Washington between US President Donald Trump and Ukrainian President Volodymyr Zelensky. The meeting came on the heels of an inconclusive summit between the US and Russia in Alaska the previous Friday. Investors are keenly observing the talks' potential consequences on global oil supply, especially regarding any modifications to sanctions or movements towards reconciliation. Trump indicated that Ukraine might need to abandon aspirations of reclaiming annexed Crimea or joining NATO, showing a preference for aligning more closely with Moscow to pursue a peace agreement rather than just a ceasefire. Meanwhile, concerns about energy flows resurfaced after White House adviser Peter Navarro criticized India's purchases of Russian crude oil. Oil prices have decreased by over 10% this month, largely due to trade tensions and the increase in supply from OPEC+.