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Oil prices fell early Monday, October 12, 2026, after U.S. President Donald Trump said Russia and Ukraine had agreed to an “energy ceasefire.” Traders weighed the possibility that a halt to attacks on energy infrastructure could ease risks to Russian oil supply. The announcement, however, came without details, and Ukraine reported further attacks; the available reporting did not establish that Russia had confirmed a lasting agreement.
How far did oil prices fall?
At 0037 GMT on October 12, Reuters reported Brent crude futures at $103.35 a barrel and U.S. West Texas Intermediate (WTI) futures at $90.55. These were early-session prices, not closing figures.
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| Benchmark | Price | Change | Observation time |
|---|---|---|---|
| Brent crude futures | $103.35 per barrel | Down $1.37 (1.31%) | 0037 GMT, October 12, 2026 |
| U.S. WTI crude futures | $90.55 per barrel | Down $1.30 (1.42%) | 0037 GMT, October 12, 2026 |
Reuters reported the figures as an early market snapshot. Prices can move during the session, so these numbers should not be read as the day’s final settlement prices. Reuters, republished by Metrobank Wealth Insights.
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Trump said on Sunday, October 11, that Russia and Ukraine had agreed to stop attacks on energy facilities. The prospect of fewer strikes raised hopes among traders that Russian supply risks could ease, and Reuters described expectations of more Russian supply as a factor behind the oil decline.
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That market interpretation was about what a possible ceasefire might mean for future supply; it was not evidence that additional oil had already reached the market. Oil prices also reflect expectations about risks and supply, so they can respond before any physical change in shipments occurs. Reuters’ account of the market move is available through MarketScreener.
Was there a confirmed ceasefire?
The available reporting does not establish a confirmed, sustained agreement. Trump posted: “Effective immediately, there is an ENERGY CEASEFIRE in the War between Russia and Ukraine. Both parties have agreed. Do not break it!” The Associated Press reported that he provided no further details and that Moscow had not immediately commented.
Ukraine’s President Volodymyr Zelenskyy welcomed the announcement as “good news for everyone,” but the AP also reported his statement that Russian attacks on energy infrastructure were continuing. Those reports leave an important distinction: Trump announced that an agreement existed, while the public information cited did not show that attacks had stopped or that the arrangement was holding. Associated Press coverage.
Why did stocks rise while the ceasefire remained uncertain?
Agence France-Presse reported that most stock markets rose on Monday as oil prices tumbled. The broad direction is consistent with investors responding to the possibility of reduced energy-supply risk, but it does not show that traders considered the ceasefire certain or durable. The cited report does not provide benchmark-specific index changes, so precise moves for individual markets cannot be established from it. AFP, republished by Yahoo News Malaysia.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What could limit the oil-price pullback?
The gap between the announcement and evidence of an implemented, lasting halt matters for oil markets: if energy infrastructure remains under attack or supply expectations do not change, the basis for a sustained price decline may weaken. Tim Waterer, chief market analyst at KCM Trade, said: “Questions remain over the validity and longevity of any such ceasefire, and without clearer evidence that it will actually hold, the extent of the pullback is likely to stay limited.”
The reported prices are an early-session snapshot. The cited reporting does not establish either the closing moves for named equity benchmarks or whether the claimed ceasefire was sustained through the full trading day.
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