OIL prices rose by more than $1 on Monday as investors weighed talks between the U.S. and Ukrainian presidents on a possible deal to end the war in Ukraine against potential oil supply disruption in the Middle East. Brent crude futures rose $1.33, or 2.2%, to $61.97 a barrel by ‌1416 GMT while U.S. West Texas Intermediate crude was up $1.31, ⁠or 2.3%, at $58.05. Zelenskiy added that ⁠a meeting ‍with ​Russia would be possible only after Trump and European leaders agree on a Ukraine-proposed ⁠framework for peace. Strong Chinese waterborne crude imports were also keeping markets tighter elsewhere, said UBS analyst Giovanni Staunovo. He added that $60 a barrel was the soft floor for Brent, with prices expected to ‍recover slightly in 2026 because non-OPEC+ supply growth is likely to stall in the middle of 2026.

Source: The Star December 30, 2025 11:01 UTC