Oil prices slipped as President Donald Trump said Russia and Ukraine had agreed to halt attacks on energy facilities. Brent fell 11 cents to $104.61 a barrel, while U.S. WTI dropped 49 cents to $91.36.
Oil prices fell on Monday on expectations that Russia would supply more oil products after Trump said Moscow would immediately provide more than 300,000 metric tons of diesel to U.S. and global markets. He said Russia would supply another 500,000 tons in November and 1 million tons thereafter. Trump also announced an energy ceasefire between Russia and Ukraine, though Ukrainian President Volodymyr Zelenskiy said he was waiting for details and Russia did not comment.
Brent remained above $100 a barrel as conflict in the Middle East and attacks on tankers near the Strait of Hormuz continued to threaten supply. Goldman Sachs raised its December Brent forecast to $90 a barrel from $85, citing a risk premium of just over $20 a barrel. Shell, Chevron and BP were seeking to redeploy personnel and restore Gulf of Mexico production after Hurricane Isaias.
