Oil prices fall after US announces Russia-Ukraine energy ceasefire
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Global stock markets rose and crude oil prices sank by more than one percent on Monday, October 12, 2026, after US President Donald Trump unilaterally announced an "energy ceasefire" between Russia and Ukraine. The declaration caused astonishment in Kyiv and silence from Moscow, with Ukrainian President Volodymyr Zelensky stating he is seeking further details while noting Ukraine supports the ceasefire. Meanwhile, Russia's Defence Ministry reported its military struck a vessel alleged to be carrying military cargo to the port of Odesa, and Moscow has not yet confirmed agreement to the energy truce.
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