Oil Prices Rise as Markets Watch Trump–Zelenskiy Talks and Global Tensions

Post by : Saif Nasser

Oil prices moved higher on Monday as investors closely studied the outcome of talks between U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskiy. Markets are also watching rising tensions in the Middle East, which could disrupt oil supplies and push prices further up.

Brent crude, the global benchmark, climbed to just over $61 per barrel, while U.S. West Texas Intermediate (WTI) rose to around $57 per barrel. These gains came after a sharp fall last week, when prices dropped more than 2% due to worries about too much oil supply and hopes that a peace deal in Ukraine could reduce risks.

The weekend meeting between Trump and Zelenskiy brought cautious optimism but no clear breakthrough. President Trump said the two sides were getting “very close” to an agreement to end the war in Ukraine. However, he also admitted that the future of the Donbas region remains unresolved. This key issue could delay any final deal.

Energy analysts say the lack of progress on territorial questions means a quick peace agreement is unlikely. Without a clear solution, uncertainty remains high. This uncertainty often supports oil prices because traders worry about future supply risks.

Fighting on the ground has also added to market concerns. Over the weekend, Russia and Ukraine continued to attack each other’s energy infrastructure. Such actions raise fears of damage to oil and gas facilities, which can reduce supply and increase prices.

Beyond Eastern Europe, the Middle East is another major concern for investors. Recent Saudi air strikes in Yemen and strong statements from Iran about being in a “full-scale war” with the United States, Europe, and Israel have unsettled markets. The Middle East produces a large share of the world’s oil, so any conflict in the region can quickly affect global supply.

Analysts also point to other factors shaping oil prices. U.S. enforcement actions against Venezuelan oil shipments could limit supply, while recent U.S. military strikes against ISIS targets in Nigeria have raised concerns about stability in another important oil-producing country. Nigeria produces about 1.5 million barrels of oil per day, making it a key player in global energy markets.

Looking ahead, experts expect oil prices to trade within a limited range unless there is a major political or military development. Investors will continue to watch peace talks, conflict zones, and supply data closely. For now, rising geopolitical risks are outweighing fears of excess supply, giving oil prices a lift at the start of the week.