{"id":2535,"date":"2026-10-12T10:03:53","date_gmt":"2026-10-12T05:03:53","guid":{"rendered":"https:\/\/ipp-news.com\/?p=2535"},"modified":"2026-10-12T10:03:53","modified_gmt":"2026-10-12T05:03:53","slug":"oil-falls-on-hopes-russia-ukraine-energy-ceasefire-will-boost-supplies","status":"publish","type":"post","link":"https:\/\/ipp-news.com\/?p=2535","title":{"rendered":"Oil falls on hopes Russia-Ukraine energy ceasefire will boost supplies"},"content":{"rendered":"
\n

Oil prices slipped on Monday on expectations of more Russian supplies after US \u200cPresident Donald Trump said Ukraine and Russia had agreed to halt attacks on each other\u2019s energy facilities following a US diesel-supply deal with Moscow.<\/strong><\/p>\n

Brent crude futures fell $1.54, or 1.47%, to $103.18 a barrel by 0154 GMT while US West Texas Intermediate crude was at $90.31 a barrel, down $1.54, or 1.68%.<\/p>\n

ICE gasoil futures fell 3% to $1,436 per barrel \u200bafter President Trump said on Friday that Russia will immediately supply<\/a> more than 300,000 metric tons of diesel to US \u200band global markets.<\/p>\n

Russia would supply another 500,000 tons in November and a further 1 million tons \u201cimmediately thereafter\u201d, Trump \u2060added.<\/p>\n

The daily diesel consumption globally is forecast at close to 29 million barrels, according to the International Energy Agency.<\/p>\n

Trump also unexpectedly announced \u200bon Sunday that Ukraine and Russia had agreed to an energy ceasefire<\/a>, but Ukrainian leader Volodymyr Zelenskiy said he was still waiting to see details \u200bof the energy ceasefire while Russia did not comment.<\/p>\n

The announcements eased some of the immediate supply pressure, Tim Waterer, KCM Trade chief analyst, said.<\/p>\n

\u201cQuestions remain over the validity and longevity of any such ceasefire, and without clearer evidence that it will actually hold, the extent of the pullback is likely to stay limited,\u201d he added.<\/p>\n

IEA\u2019s \u200bExecutive Director Fatih Birol said on Sunday that all members should assess whether additional diesel releases are necessary and that countries which have not yet fully delivered \u200bpledged volumes accelerate their remaining releases prioritising diesel.<\/p>\n

<\/a>Crude supported by Middle East conflict<\/strong><\/h3>\n

However, the Middle East conflict continued to support Brent crude at above $100 a barrel.<\/p>\n

The Houthis claimed \u200cresponsibility \u2060for a Saturday strike<\/a> on Riyadh\u2019s international airport that killed 13 people and wounded more than 300.<\/p>\n

At the same time, Saudi authorities reported that people were injured in a new attack on the airport on Sunday.<\/p>\n

US President Donald Trump said on Saturday the United States was considering joining Saudi strikes on the Houthis in the conflict, a spillover from the wider war with Iran that the US and Israel launched in February.<\/p>\n

In addition, more attacks<\/a> on tankers sailing through the Strait of Hormuz have been reported so far this month, threatening to dampen a recovery in Middle East crude exports seen in September.<\/p>\n

A tanker was struck by a drone in the vicinity of Sohar anchorage, Oman, while another was damaged by an unknown projectile while \u200btransiting the Strait of Hormuz, the United Kingdom Maritime Trade Operations reported over the weekend.<\/p>\n

Goldman Sachs raised \u200bits Brent crude price \u2060forecast for December to $90 a barrel, up from $85 previously, its analysts led by Daan Struyven said in a note.<\/p>\n

\u201cWe maintain our base case that continued adaptation of Mideast supply will eventually reduce crude oil prices, while potential renewed escalation still poses significant net upside risk,\u201d the analysts said, estimating a \u2060risk premium \u200bof just over $20 a barrel.<\/p>\n

\u201cWe forecast WTI prices, which are unusually low vs Brent \u200bbecause of high US-Europe shipping costs, to average $81 in December 2026 and $73 in 2027,\u201d they added.<\/p>\n

In the Gulf of Mexico<\/a>, energy majors Shell, Chevron, and BP were seeking to redeploy personnel \u200band restore production at their platforms after Hurricane Isaias made landfall early on Saturday.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Oil prices slipped on Monday on expectations of more Russian supplies after US \u200cPresident Donald Trump said Ukraine and Russia had agreed to halt attacks on each other\u2019s energy facilities following a US diesel-supply deal with Moscow. Brent crude futures fell $1.54, or 1.47%, to $103.18 a barrel by 0154 GMT while US West Texas Intermediate crude was at $90.31 a barrel, down $1.54, or 1.68%. ICE gasoil futures fell 3% to $1,436 per barrel \u200bafter President Trump said on Friday that Russia will immediately supply more than 300,000 metric…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-2535","post","type-post","status-publish","format-standard","hentry","category-english"],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/2535","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2535"}],"version-history":[{"count":0,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/2535\/revisions"}],"wp:attachment":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}