Brent Crude Oil Holds Below $75 Amid Russia-Ukraine Peace Talks

Brent crude oil remained just under $75 per barrel on Monday, as investors closely monitored developments on a possible Russia-Ukraine peace deal. Any progress in peace negotiations could lead to easing sanctions on Russian oil, potentially increasing global crude supply and impacting oil prices.

US-Russia Talks Could Shift Global Oil Supply

US President Donald Trump signaled a potential meeting with Russian President Vladimir Putin to discuss ending the Ukraine war. The initial round of talks between the US and Russia is set to take place in Saudi Arabia this week. If these negotiations lead to a breakthrough, the lifting of sanctions could result in more Russian oil entering global markets, adding to supply pressures.

Iraq’s Kurdistan Oil Exports May Resume

Adding to the potential increase in oil supply, Iraq’s Kurdistan region has indicated that its oil exports may resume next month. The Kurdistan Regional Government (KRG) has been in discussions with Baghdad and international stakeholders to restart oil flows, which have been largely halted due to political and logistical issues.

If Kurdistan’s oil exports resume as planned, it could further increase global crude availability, adding downward pressure on prices.

Trade War Concerns Limit Oil Price Gains

Despite potential supply increases, oil prices remain volatile due to concerns over a global trade war. President Trump has instructed officials to review possible retaliatory tariffs on countries that impose duties on US goods.

Fears of an escalating trade conflict could slow global economic growth, leading to weaker oil demand and increased market uncertainty.

Market Outlook: Oil Prices Remain in a Tight Range

The oil market is balancing multiple factors, with geopolitical risks, trade tensions, and supply concerns shaping the outlook. Key points to watch include:

• Progress in US-Russia peace talks and potential sanctions relief
• Iraq’s Kurdistan oil export developments
• Ongoing global trade policies impacting demand

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