West Texas Intermediate oil barrel in deliveries on I 2026 costs $58,49 on NYMEX in fresh York, below 0.59%.
Brent on ICE on I is valued at $63.00 per barrel, below 0.58%.
Investors measure advancement in peace talks on Ukraine that can pave the way for increased oil supply to global fuel markets.
Negotiations
President of Ukraine Volodymyr Zelenski stated on Monday that after talks of the Ukrainian delegation with representatives of the USA and Europe in Geneva The number of points in the US peace proposal has been reduced and is no longer 28.
Zelenski noted that the paper inactive needs to be refined.
– There is inactive something to work on together – it is very hard – to prepare the final document, and it needs to be done decently. And we appreciate that most of the planet is willing to aid us, and the American side is constructive. Yesterday the meetings lasted practically all day – it was a difficult, highly detailed work - He said.
The US president Donald Trump administration presented a 28-point peace plan to president Zelensk last week and pressures him to accept it by Thursday at the latest.
The first plan not according to Ukraine
The plan was perceived as coming to Russia's hand, although American officials reserve that it may inactive be subject to change.
European leaders responded on Sunday to the American plan by presenting their version of the project.
The proposal introduces any modifications to the US proposal on the simplification of the Ukrainian army's size and provides guarantees akin to those of Article 5 NATO.
Conversations in Abu Dhabi
Meanwhile, U.S. Secretary of Land Forces Dan Driscoll came to the capital of the United arabian Emirates for talks with the Head of Military Intelligence of Ukraine (HUR) and a Russian delegation, according to CBS News, which cites anonymous officials and diplomats.
Analysts point out that if an agreement is yet reached, Western sanctions against Russia can be softened, and this could possibly increase oil supply in the fuel markets, which are already facing an excess of this natural material.
– Peace talks will proceed to be applicable to oil markets – points out Warren Patterson, head of natural materials strategy at ING Groep NV.
– However, all affirmative advancement in talks carries a hazard of further decline in oil prices," he adds.
Oil, as analysts recall, has lost value this year, and reductions in commodity quotations reflect expanding production, both from OPEC+ countries and another oil suppliers.
Business Alert / PAP
