FX.co ★ Oil Rises as Traders Await Trump-Zelenskiy Talks

WTI crude oil futures climbed above $63 per barrel on Monday, as attention turned to a pivotal meeting in Washington. The discussions involve US President Donald Trump and Ukrainian President Volodymyr Zelenskiy, with the focus on advancing a peace agreement with Russia. Attendees also include European Commission President Ursula von der Leyen, French President Emmanuel Macron, and NATO Secretary General Mark Rutte. President Trump expressed his intention to urge President Zelenskiy towards a swift resolution following his talks last Friday with Russian President Vladimir Putin. Their conversation revolved around Russia's request for Ukraine to relinquish certain territories. Additionally, Trump indicated a reduced urgency in implementing sanctions on Russia and nations purchasing its oil, moderating his earlier position from their recent summit in Alaska. Oil prices have declined by over 10% this month, affected by concerns surrounding the economic impact of Trump's tariffs and the increment in OPEC+ oil output.