Oil prices are steady to higher after a recent run, as traders weigh supply risks from the Middle East and uncertainty around a claimed Russia-Ukraine “energy ceasefire.” Several outlets report that crude rose back around the $105 area, following earlier strength and amid heightened geopolitical tensions.
The moves in oil prices also reflect differing views about whether the Russia-Ukraine energy halt meaningfully reduces risk to fuel and energy infrastructure. Bloomberg and others cite US President Donald Trump’s announcement of a ceasefire, while Ukrainian President Volodymyr Zelenskyy says Russia has already struck energy infrastructure, casting doubt on the arrangement. At the same time, multiple outlets point to deadly attacks in Saudi Arabia, including strikes on Riyadh’s international airport, which raise broader concerns about regional security.
Taken together, the reporting frames the market’s direction as sensitive to both immediate strike risk in the Middle East and the credibility and implementation of any Russia-Ukraine deal affecting energy assets.
