Oil prices ticked upward on Monday as markets digested geopolitical signals following an inconclusive US–Russia summit in Alaska and ahead of a meeting between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy.
By midday in New York, Brent crude futures rose 34 cents (0.52%) to $66.19 per barrel, while US West Texas Intermediate (WTI) gained 38 cents (0.61%) to $63.18. Both benchmarks had slipped the previous week, with Brent down 1.1% and WTI off 1.7%.
Geopolitical Tensions in Focus
Investors remain attuned to developments in the Ukraine conflict. Zelenskiy stated on Monday that he was prepared to work toward ending the war, though analysts suggest he may face pressure to accept terms more favorable to Moscow.
Following his Alaska summit with Russian President Vladimir Putin, Trump signaled alignment with Moscow’s approach — favoring the pursuit of a broader peace deal over securing a ceasefire as a first step. This shift, combined with Trump’s comments that Ukraine should “give up hopes” of reclaiming Crimea or joining NATO, raised fresh questions about the geopolitical outlook and its effect on energy markets.
Market Sentiment
“The market is still locked in a speculative fervor right now,” said Phil Flynn, senior analyst at Price Futures Group. “Traders seem to be very pessimistic on prices, which either meant they were expecting a ceasefire deal or they think President Trump won’t follow through with the tough sanctions.”
Analysts suggest that traders are weighing two competing possibilities: tougher US sanctions that could tighten oil supply or diplomatic compromises that may ease geopolitical risk.
India and Russian Oil Exports
Meanwhile, the debate over India’s role in Russian crude flows resurfaced. White House trade adviser Peter Navarrocriticized New Delhi’s purchases of Russian oil, arguing that India had become a “global clearing house” for embargoed crude — converting it into refined products while providing Moscow with much-needed dollar revenues.
This sentiment was echoed by Priyanka Sachdeva, senior market analyst at brokerage Phillip Nova, who noted:
“The US adviser’s sharp words on India’s Russian crude imports, paired with postponed trade talks, revive concerns that energy flows remain hostage to trade and diplomatic frictions, even as peace prospects in Ukraine brighten.”
Outlook
With diplomatic negotiations at a delicate stage, markets remain volatile. For traders, the key variables are whether Washington pursues tighter sanctions on Russia, or instead moves toward a negotiated settlement that could ease some geopolitical pressures. Either outcome will have direct implications for global oil supply and price stability.
Partner With Us
Want to feature your brand, business, or service on 365247 — Whether you’re looking to sponsor, collaborate, or build presence within our ecosystem, we’d love to explore it with you.
Submit your interest here
