Oil prices fall after Russia-Ukraine energy facility attack truce
Oil prices dropped as expectations rose for increased Russian supply following a deal to halt attacks on energy facilities between Russia and Ukraine.
Key Takeaways
AIOil prices fell on Monday in global markets amid expectations of higher Russian supply, following an announcement by US President Donald Trump of an agreement to halt attacks on energy facilities between Russia and Ukraine.
Brent crude futures dropped by $1.54, or 1.47%, to $103.18 a barrel.
US West Texas Intermediate crude also declined by $1.54, or 1.68%, to $90.31 a barrel.
Meanwhile, energy market sources indicated that the agreement is expected to ease concerns over potential disruptions to oil supplies in the region, which was immediately reflected in prices.