Zelenskyy says Russia broke the energy ceasefire; oil turns higher
Doubts over the truce Trump announced on Sunday pushed oil back up.
Oil · Monday, October 12, 2026 · 10:15 AM ET
Ukrainian President Volodymyr Zelenskyy said on Monday that Russia has violated the "energy ceasefire" President Trump announced on Sunday, and oil prices turned higher after an early dip (CBC, Sharecast).
What was said
Zelenskyy told a security conference in Warsaw by video link that "there were Russian violations of the energy ceasefire announced by President Trump," and urged Washington to step in to make sure Moscow respects it (CBC). In a separate address, he said Ukraine is ready to agree to the ceasefire but that Russia must do the same, and that Ukraine will respond if it does not (CNBC). Moscow has so far rejected such a deal, according to Dow Jones.
The diesel deal
CBC reports that several EU foreign ministers said Monday the US-Russia diesel deal is unlikely to bring energy prices down. Analysts quoted by CNBC earlier today took a similar view. Our earlier story has the details: oil eases after the Russian diesel deal.
Oil
Sharecast says oil briefly dipped on the announcement and then reversed higher, with Brent up about 0.9% near $105.66 a barrel before the US open. Sharecast also reports that Trump said over the weekend he was considering joining Saudi Arabia in strikes on Houthi forces in Yemen after another deadly attack on Riyadh's airport (Sharecast). See the market at the open and our earlier oil story.