Oil cheaper by 2% amid progress on peace plan work

Oil prices fell by about 2% in trading on November 25 amid signs of progress on a peace plan between Ukraine and Russia. Brent crude futures were down 2% to $62, while West Texas Intermediate (WTI) fell almost 2.6% to $57.

Signs of progress on the peace plan are boosting investor expectations that Russian oil will remain on the global market, Bloomberg writes. On the evening of November 25, the head of the Ukrainian president's office, Andriy Yermak, told Axios that Vladimir Zelensky was ready to meet with US President Donald Trump "as soon as possible" to finalize a potential agreement.

It is possible that the meeting of the presidents will take place in the coming holidays in the USA (Thanksgiving), the Ukrainian president's office admits. Zelensky wants to personally discuss the issue of territorial concessions with Trump, Yermak emphasized.

According to US and Ukrainian officials, the sides have already agreed on most of the plan, which was proposed by the United States and significantly modified from the original 28-point plan, Axios writes. A US official confirmed to the publication that discussions about a possible meeting between Trump and Zelensky this week or next week are indeed underway, but the date has not yet been set.

This article was AI-translated and verified by a human editor