Live: Oil prices fall after Trump unilaterally announces Russia-Ukraine 'energy ceasefire'

Oil prices tumbled and most stock markets rose on Monday following US President Donald Trump's announcement of an immediate energy ceasefire between Russia and Ukraine. Trump stated on social media that both parties had agreed to the ceasefire. Brent crude fell 1.2% to $103.48 per barrel on Monday morning, reversing an initial spike caused by Houthi attacks on Saudi Arabia, according to IOL.

The announcement drew astonishment from Kyiv, with President Volodymyr Zelensky seeking further details. While Zelensky stated that Ukraine supports the ceasefire and is ready to refrain from striking Russian energy infrastructure, The Mainichi reports that the Ukrainian presidential office confirmed a power plant in Kharkiv was attacked after the ceasefire post.

The Mainichi also noted that Zelensky reported Russian drone and glide bomb strikes on energy infrastructure in Kyiv and Kharkiv. Moscow did not immediately comment on the announcement, according to France 24 and The Mainichi.

Trump's declaration followed comments in which he called on Zelensky to halt attacks on Russian refineries and suggested it was time for Ukraine to get a new president. IOL reports that Trump had also faced criticism for declaring a temporary easing of US sanctions on Russian diesel, a move European leaders and Kyiv claimed would embolden Vladimir Putin.

Brief written by urgent.news from France 24, IOL, The Mainichi, ABC News AU — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.