{
  "id": 13882686,
  "title": "Oil prices subside after Trump hails 'energy ceasefire' between Russia and Ukraine",
  "url": "https://urgent.news/2026/10/12/oil-prices-subside-after-trump-hails-energy-ceasefire-between-russia",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-12T05:26:00.000Z",
  "source": {
    "name": "IOL",
    "slug": "iol",
    "url": "https://iol.co.za/business/economy/2026-10-12-oil-prices-subside-after-trump-hails-energy-ceasefire-between-russia-and-ukraine/"
  },
  "original_language": "en",
  "account": "Oil prices declined on Monday as Donald Trump announced an energy ceasefire between Russia and Ukraine, which helped offset recent attacks by Houthi rebels in Saudi Arabia. Both major crude contracts fell more than one percent following the US president's declaration, causing surprise in Kyiv, which claimed Russia had also struck multiple power plants. Brent crude was down 1.2% to $103.48 per barrel in early trading. Trump declared the cease-fire on Sunday, urging Ukrainian President Volodymyr Zelensky to halt attacks on Russian refineries and calling for a new Ukrainian president to end the war. Zelensky expressed surprise at the announcement but said Ukraine supports the ceasefire and Russia should as well. While allies welcomed the announcement, Trump's temporary easing of US sanctions on Russian diesel had previously drawn criticism. The drop in oil prices reversed an initial spike following the Houthi attacks, which killed at least a dozen people in Saudi Arabia. Market analysts noted that investors are becoming less sensitive to geopolitical threats, focusing on the physical market rather than headlines. Asian markets also benefited from the lower oil prices, with several markets in the region rising. However, losses in chipmakers and tech giants in Tokyo dampened the overall gains. Investors are now preparing for US inflation and retail sales data releases, which could influence the Federal Reserve's decision on interest rates later in October.",
  "summary": "Global markets rise and oil prices fall after Trump announces a Russia-Ukraine energy ceasefire, although Moscow has yet to confirm its agreement.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "ABC News AU",
        "title": "Trump shifts position on Ukraine as fuel prices pose existential threat",
        "url": "https://urgent.news/2026/10/12/trump-shifts-position-on-ukraine-as-fuel-prices-pose-existential",
        "published": "2026-10-12T04:23:08.000Z"
      },
      {
        "outlet": "France 24",
        "title": "Live: Oil prices fall after Trump unilaterally announces Russia-Ukraine 'energy ceasefire'",
        "url": "https://urgent.news/2026/10/12/live-oil-prices-fall-after-trump-unilaterally-announces-russia",
        "published": "2026-10-12T05:29:41.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}