Oil prices fall after Trump announces ‘Ukraine-Russia energy ceasefire’

WorldBusiness & Finance
12 Oct 2026 • 3:38 PM MYT
The Independent
The Independent

The world’s most free-thinking newspaper

Oil prices fall after Trump announces ‘Ukraine-Russia energy ceasefire’

  • Oil prices fell following expectations of increased Russian supplies after US president Donald Trump announced a diesel deal with Moscow aimed at halting attacks on energy facilities.
  • Under the agreement, Russia will supply 500,000 tonnes of diesel in November and a further one million tonnes shortly afterwards.
  • Ukrainian president Volodymyr Zelensky strongly criticised the deal, leading President Trump to call for new leadership in Ukraine.
  • Defence secretary Wes Streeting confirmed Britain will attempt to build bridges between Donald Trump and President Zelensky following the row.
  • Andy Burnham is scheduled to meet Volodymyr Zelensky in person in the coming days after Downing Street reiterated its complete solidarity with Ukraine.

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