Economy / Markets

An energy ceasefire nobody has confirmed, and an oil market that noticed

Oil finished the week choppy and politics made it worse. President Trump announced an “energy ceasefire” between Russia and Ukraine effective immediately, days after a diesel-supply arrangement with Moscow that senators in both parties called potentially illegal; neither belligerent had confirmed the truce as Asian markets opened. Brent traded near $103.5 a barrel, well below its recent $109.97 peak but roughly 57% above a year ago, with the Strait of Hormuz still the structural risk. September US inflation data on 14 October is the next test for headline prices.

By News Desk · Edited by Editorial Desk · Monday, 12 October 2026

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