Oil Steadies With Focus on Russia-Ukraine and US-Iran Talks

Bloomberg.com · last updated May 19, 2025 – 8:51 PM

Oil was little changed after a two-day gain, as traders gauged signs that US President Donald Trump is pulling back from his efforts to end the war between Ukraine and Russia.

Brent crude traded above $65 a barrel, while West Texas Intermediate was below $63. Trump said that Ukraine and Russia would “immediately” begin negotiations on a ceasefire, but possibly without the US and without any sign of further pressure on the OPEC+ producer.

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